UFP Technologies (NASDAQ:UFPT) Posts Quarterly Earnings Results, Beats Estimates By $0.30 EPS

UFP Technologies (NASDAQ:UFPT) posted its quarterly earnings data on Monday. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.30, FiscalAI reports. UFP Technologies had a return on equity of 19.36% and a net margin of 11.33%.The business had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million.

UFP Technologies Stock Performance

NASDAQ:UFPT traded down $1.52 during trading hours on Monday, hitting $192.55. 263,173 shares of the company traded hands, compared to its average volume of 195,619. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 21.93 and a beta of 1.08. UFP Technologies has a twelve month low of $182.87 and a twelve month high of $274.93. The firm has a 50-day moving average of $202.02 and a 200 day moving average of $221.03. The company has a current ratio of 2.68, a quick ratio of 1.52 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On UFP Technologies

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in UFP Technologies in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its holdings in UFP Technologies by 1,500.0% in the 4th 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 in the last quarter. Canada Pension Plan Investment Board acquired a new position in UFP Technologies in the 2nd quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd acquired a new position in UFP Technologies in the 3rd quarter valued at approximately $51,000. Finally, PNC Financial Services Group Inc. raised its holdings in 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 valued at $52,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on UFPT shares. Wall Street Zen raised UFP Technologies from a “sell” rating to a “hold” rating in a research report 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 stock. According to MarketBeat, the company currently has an average 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.