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Universal Forest Products, Inc. (UFPI - Analyst Report) recently announced to have signed an agreement, through one of its subsidiaries, to acquire some assets of SE Panel and Lumber Supply. Financial terms of the transaction have not been disclosed.

SE Panel and Lumber Supply is a South Daytona, Fla.-based distributor of Olympic Panel overlay concrete forming panels and commodity lumber products. Key end markets served include concrete forming and construction industries.

The transaction is anticipated to be complete by mid-Nov 2013. Universal Forest Products will gain from easy accessibility of the acquired assets to end markets served, especially the southeastern region of the United States.

Universal Forest Products has compelling long-term growth prospects. The company looks forward to improving its top-line growth through accretive acquisitions and addition of new customers and products to its portfolio. Revenue generation is targeted to reach $3 billion with operating margins at normal historical levels by 2017.

The Zacks Consensus Estimate for Universal Forest Products is currently pegged at $1.74 for year 2013 and at $2.63 for year 2014, representing year-over-year growth of 62.3% and 51.2%, respectively.

Universal Forest Products is a large player in the lumber supply chain and has a market capitalization of $778 million. The stock currently holds a Zacks Rank #3 (Hold). Other stocks to watch out for in the industry are Boise Cascade Company (BCC - Snapshot Report), with a Zacks Rank #1 (Strong Buy) while Armstrong World Industries, Inc. (AWI - Analyst Report) and Masco Corporation (MAS - Analyst Report), each come with a Zacks Rank #2 (Buy).

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