UFP Technologies (NASDAQ:UFPT) Sets New 1-Year High on Earnings Beat

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $297.50 and last traded at $327.5470, with a volume of 1116 shares changing hands. The stock had previously closed at $267.53.

The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.61. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The company had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, UFP Technologies currently has an average rating of “Hold” and an average target price of $289.00.

Insider Activity at UFP Technologies

In related news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total transaction of $634,977.44. Following the transaction, the director directly owned 855 shares in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC bought a new stake in shares of UFP Technologies in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc boosted its stake in UFP Technologies by 1,291.7% during the second quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company’s stock worth $44,000 after buying an additional 155 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of UFP Technologies by 1,500.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 165 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of UFP Technologies in the 2nd quarter worth about $49,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of UFP Technologies by 66.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Performance

The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.49 billion, a PE ratio of 36.75 and a beta of 1.07. The business’s 50 day moving average is $242.65 and its 200 day moving average is $228.39.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.