UFP Technologies (NASDAQ:UFPT) Announces Earnings Results

Key Points

• UFP Technologies beat quarterly estimates: The company reported EPS of $2.92 versus the $2.31 consensus and revenue of $173.96 million compared with expectations of $159.38 million.
• Shares rose 5% to $267.53 following the results, giving the company a market capitalization of approximately $2.07 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $289, while institutional investors own 87.28% of the stock. Two directors also recently sold shares.

UFP Technologies (NASDAQ:UFPT - Get Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.61, FiscalAI reports. 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 the consensus estimate of $159.38 million.

UFP Technologies Stock Up 5.0%

Shares of UFPT stock traded up $12.75 during trading hours on Monday, hitting $267.53. 189,070 shares of the company were exchanged, compared to its average volume of 203,545. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91. UFP Technologies has a one year low of $173.86 and a one year high of $279.49. The business's 50-day simple moving average is $241.88 and its two-hundred day simple moving average is $228.28. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 30.37 and a beta of 1.08.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $289.00.

Insider Activity

In related news, Director Daniel C. Croteau sold 2,864 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the completion of the sale, the director directly owned 855 shares of the company's stock, valued at $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction that occurred on 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 directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.59% of the stock is owned by insiders.

Hedge Funds Weigh In On UFP Technologies

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in UFP Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company's stock valued at $873,000 after purchasing an additional 190 shares during the last quarter. Millennium Management LLC lifted its position in shares of UFP Technologies by 123.1% in the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company's stock worth $18,915,000 after buying an additional 51,741 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of UFP Technologies in the 1st quarter valued at about $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of UFP Technologies by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company's stock valued at $2,593,000 after buying an additional 1,327 shares during the period. Finally, Jane Street Group LLC grew its position in shares of UFP Technologies by 383.0% during the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company's stock valued at $4,761,000 after buying an additional 18,718 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

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.

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