Daniel Croteau Sells 2,864 Shares of UFP Technologies (NASDAQ:UFPT) Stock

UFP Technologies, Inc. (NASDAQ:UFPT) Director Daniel Croteau sold 2,864 shares of the stock in a transaction dated 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 owned 855 shares of the company’s stock, valued at approximately $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

UFP Technologies Stock Down 0.6%

Shares of NASDAQ:UFPT traded down $1.36 during midday trading on Wednesday, reaching $219.23. The company had a trading volume of 196,959 shares, compared to its average volume of 204,186. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $274.93. The stock has a market cap of $1.70 billion, a PE ratio of 24.88 and a beta of 1.08. The company has a quick ratio of 1.69, a current ratio of 2.91 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $200.88 and its 200 day moving average price is $221.99.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 earnings per share. Research analysts forecast that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UFPT. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research upgraded shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.00.

Institutional Trading of UFP Technologies

A number of hedge funds have recently made changes to their positions in UFPT. Allspring Global Investments Holdings LLC lifted its holdings in UFP Technologies by 60.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock valued at $37,115,000 after purchasing an additional 62,472 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of UFP Technologies by 20.7% in the third quarter. Public Sector Pension Investment Board now owns 30,119 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 5,174 shares during the last quarter. Applied Fundamental Research LLC increased its holdings in shares of UFP Technologies by 23.6% in the third quarter. Applied Fundamental Research LLC now owns 48,753 shares of the industrial products company’s stock valued at $9,731,000 after purchasing an additional 9,314 shares during the last quarter. Congress Asset Management Co. raised its position in shares of UFP Technologies by 32.4% in the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock valued at $97,942,000 after purchasing an additional 107,908 shares during the period. Finally, First National Bank of Omaha bought a new position in shares of UFP Technologies in the third quarter valued at about $2,082,000. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Company Profile

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.