Universal Forest Products, Inc., through its subsidiaries, designs, manufactures and markets wood and wood-alternative products for DIY/retail home centers and other retailers, structural lumber products for the manufactured housing industry, engineered wood components for the site-built construction market, and specialty wood packaging and components for various industries.
Founded in 1955, Universal has approximately 7,500 employees who work in more than 80 facilities across North America. Despite the massive size, the Company has maintained its local relationships and a strong presence via a strategic network of plants throughout North America. The breadth and depth of these relationships are further reinforced by the fact that there is virtually zero employee turnover.
Even though the recent recession has been particularly hard on the construction industry, Universal Forest Products has been able to leverage its agility and diverse business model to navigate through the carnage and capitalize on new opportunities for growth. In the most recently reported quarter, Universal announced that sales grew in three of its four markets while maintaining a cash position of more than $58 million.
The Company also recently announced a semiannual dividend payment of $0.20 per share as well as a two million share expansion of its stock repurchase program. In addition to underscoring Universal’s firm footing and bright future, the initiatives also serve as a gesture of the appreciation the Company has for its shareholders. Having established an enviable position within its industry, both competitively and financially, Universal Forest Products is one to keep on radar.