Exchange Traded Concepts LLC Cuts Position in Universal Logistics Holdings, Inc. (NASDAQ:ULH)

Posted by Defense World Staff on Oct 8th, 2023

Exchange Traded Concepts LLC decreased its holdings in Universal Logistics Holdings, Inc. (NASDAQ:ULH – Free Report) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,840 shares of the transportation company’s stock after selling 1,171 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Universal Logistics were worth $370,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Universal Logistics by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 174,476 shares of the transportation company’s stock valued at $3,516,000 after purchasing an additional 5,784 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Universal Logistics by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 670,525 shares of the transportation company’s stock valued at $13,513,000 after purchasing an additional 18,919 shares during the last quarter. Vanguard Group Inc. grew its holdings in Universal Logistics by 2.5% in the first quarter. Vanguard Group Inc. now owns 333,886 shares of the transportation company’s stock valued at $6,727,000 after purchasing an additional 8,148 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Universal Logistics in the first quarter valued at $250,000. Finally, State Street Corp grew its holdings in Universal Logistics by 2.9% in the first quarter. State Street Corp now owns 136,148 shares of the transportation company’s stock valued at $2,758,000 after purchasing an additional 3,817 shares during the last quarter. Hedge funds and other institutional investors own 24.65% of the company’s stock.

Insider Buying and Selling

In other Universal Logistics news, Director Matthew T. Moroun bought 14,303,973 shares of Universal Logistics stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $24.62 per share, for a total transaction of $352,163,815.26. Following the completion of the transaction, the director now owns 11,866,015 shares of the company’s stock, valued at approximately $292,141,289.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 73.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ULH shares. Stifel Nicolaus lowered their target price on Universal Logistics from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Monday, August 14th. StockNews.com began coverage on Universal Logistics in a research note on Thursday. They set a “buy” rating on the stock.

Read Our Latest Analysis on ULH

Universal Logistics Stock Up 0.7 %

ULH opened at $24.31 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $639.11 million, a P/E ratio of 4.90 and a beta of 1.19. Universal Logistics Holdings, Inc. has a 52 week low of $23.74 and a 52 week high of $45.00. The business’s fifty day simple moving average is $27.36 and its 200 day simple moving average is $28.01.

Universal Logistics (NASDAQ:ULH – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $412.57 million for the quarter, compared to analyst estimates of $448.10 million. Universal Logistics had a net margin of 7.19% and a return on equity of 28.66%. As a group, equities research analysts anticipate that Universal Logistics Holdings, Inc. will post 3.87 EPS for the current fiscal year.

Universal Logistics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 4th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.42 annualized dividend and a yield of 1.73%. Universal Logistics’s dividend payout ratio (DPR) is presently 8.47%.

Universal Logistics Company Profile

(Free Report)

Universal Logistics Holdings, Inc provides transportation and logistics solutions in the United States, Mexico, Canada, and Colombia. It offers truckload services, which include dry van, flatbed, heavy-haul, and refrigerated operations; domestic and international freight forwarding, and customs brokerage services.