UFP Technologies (NASDAQ:UFPT) Issues Earnings Results

Key Points

• UFP reported quarterly EPS of $2.48, beating analysts' estimate by $0.30, while revenue of $154.20 million was slightly below expectations; the company posted a net margin of 11.33% and a return on equity of 19.36%.
• Shares dipped about 0.8% to $192.55 on higher-than-average volume; the stock has a market cap of roughly $1.49 billion, a P/E of 21.93, and a 52-week range of $182.87–$274.93.
• Analysts' consensus is a Hold with an average price target of $289, and institutional investors own about 87.28% of the company with several funds recently adding or increasing positions.

UFP Technologies (NASDAQ:UFPT - Get Free Report) posted its earnings results on Monday. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.30, FiscalAI reports. The firm had revenue of $154.20 million during the quarter, compared to analysts' expectations of $154.78 million. UFP Technologies had a net margin of 11.33% and a return on equity of 19.36%.

UFP Technologies Stock Down 0.8%

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Zacks Research raised UFP Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $289.00.

Institutional Trading of UFP Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Brevan Howard Capital Management LP acquired a new stake in shares of UFP Technologies in the second quarter worth $1,142,000. Diversify Wealth Management LLC lifted its stake in shares of UFP Technologies by 22.1% in the second quarter. Diversify Wealth Management LLC now owns 4,024 shares of the industrial products company's stock worth $982,000 after buying an additional 727 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of UFP Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company's stock worth $873,000 after buying an additional 190 shares during the last quarter. Guggenheim Capital LLC acquired a new position in shares of UFP Technologies during the 4th quarter worth about $536,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of UFP Technologies by 7.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,072 shares of the industrial products company's stock worth $460,000 after purchasing an additional 140 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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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