UFP Technologies (NASDAQ:UFPT) Posts Quarterly Earnings Results, Beats Estimates By $0.61 EPS

UFP Technologies (NASDAQ:UFPT) announced its quarterly earnings results on Monday. The industrial products company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.61, FiscalAI reports. The business had revenue of $173.96 million for the quarter, compared to analysts’ expectations of $159.38 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.

UFP Technologies Stock Performance

Shares of UFPT stock traded up $12.75 during trading hours on Monday, reaching $267.53. The stock had a trading volume of 189,070 shares, compared to its average volume of 203,545. The firm has a market capitalization of $2.07 billion, a PE ratio of 30.37 and a beta of 1.08. The firm has a 50-day simple moving average of $241.88 and a 200-day simple moving average of $228.28. UFP Technologies has a twelve month low of $173.86 and a twelve month high of $279.49. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69.

Insider Transactions at UFP Technologies

In other UFP Technologies news, Director Cynthia L. Feldmann sold 1,200 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the transaction, the director directly owned 5,476 shares of the company’s stock, valued at $1,310,352.04. The trade was a 17.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel C. Croteau sold 2,864 shares of the company’s 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 completion of the transaction, the director owned 855 shares of the company’s stock, valued at approximately $189,562.05. This trade represents a 77.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.59% of the company’s stock.

Institutional Trading of UFP Technologies

Large investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP increased its position in shares of UFP Technologies by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock valued at $163,420,000 after purchasing an additional 93,640 shares during the period. Millennium Management LLC boosted its stake in UFP Technologies by 123.1% during the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after buying an additional 51,741 shares in the last quarter. UBS Group AG boosted its stake in UFP Technologies by 41.8% during the third quarter. UBS Group AG now owns 154,688 shares of the industrial products company’s stock valued at $30,876,000 after buying an additional 45,581 shares in the last quarter. Janus Henderson Group PLC grew its holdings in UFP Technologies by 128.5% during the fourth quarter. Janus Henderson Group PLC now owns 79,391 shares of the industrial products company’s stock worth $17,616,000 after acquiring an additional 44,645 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in UFP Technologies by 254.5% during the second quarter. Cubist Systematic Strategies LLC now owns 53,442 shares of the industrial products company’s stock worth $13,048,000 after acquiring an additional 38,366 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.00.

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.