UFP Technologies (NASDAQ:UFPT) Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS

Key Points

• UFP Technologies reported earnings per share of $2.50, exceeding analysts' estimates by $0.21, with a net margin of 11.59% and a return on equity of 21.27%.
• Insider trading activity saw SVP Christopher P. Litterio sell 1,473 shares, reducing his ownership by 10.48% after the sale.
• Institutional investors hold 87.28% of UFP Technologies stock, with significant increases from firms like Millennium Management LLC and Jane Street Group LLC during the 1st quarter.

UFP Technologies (NASDAQ:UFPT - Get Free Report) posted its quarterly earnings data on Monday. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.25, Zacks reports. The firm had revenue of $151.18 million for the quarter, compared to the consensus estimate of $151.55 million. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%. The business's revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.86 EPS.

UFP Technologies Trading Down 1.6%

NASDAQ UFPT traded down $3.23 on Friday, reaching $202.99. The company had a trading volume of 31,896 shares, compared to its average volume of 136,784. UFP Technologies has a 52 week low of $178.26 and a 52 week high of $366.41. The stock's 50 day moving average is $237.85 and its 200-day moving average is $232.53. The company has a quick ratio of 1.45, a current ratio of 2.77 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 23.71 and a beta of 1.14.

Hedge Funds Weigh In On UFP Technologies

Institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in UFP Technologies by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company's stock worth $873,000 after acquiring an additional 190 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of UFP Technologies during the first quarter worth $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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. Jane Street Group LLC increased its position in shares of UFP Technologies by 383.0% in 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 in the last quarter. Finally, Millennium Management LLC increased 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 valued at $18,915,000 after buying an additional 51,741 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Lake Street Capital boosted their price objective on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a report on Wednesday.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.