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

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

UFP Technologies Trading Up 5.0%

NASDAQ UFPT opened at $267.53 on Tuesday. The stock has a 50-day simple moving average of $242.65 and a 200 day simple moving average of $228.39. The company has a market capitalization of $2.07 billion, a PE ratio of 30.37 and a beta of 1.07. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. UFP Technologies has a 12 month low of $173.86 and a 12 month high of $279.49.

Insider Activity

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of the firm’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 transaction, the director owned 855 shares in the company, valued at approximately $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated Friday, June 12th. The stock was 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 $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On UFP Technologies

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in shares of UFP Technologies during the fourth quarter worth $28,000. Smartleaf Asset Management LLC raised its stake in UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after buying an additional 165 shares during the period. Canada Pension Plan Investment Board bought a new position in UFP Technologies during the second quarter worth about $49,000. Caitong International Asset Management Co. Ltd acquired a new position in UFP Technologies in the third quarter valued at about $51,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of UFP Technologies by 66.2% in the fourth 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 in the last quarter. Institutional investors own 87.28% of the company’s stock.

Analysts Set New Price Targets

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

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.