UFP Technologies (NASDAQ:UFPT) Posts Quarterly Earnings Results, Beats Estimates 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) announced its earnings results 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. UFP Technologies had a net margin of 11.40% and a return on equity of 22.19%. The company had revenue of $151.18 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the previous year, the business earned $1.86 earnings per share. The firm's quarterly revenue was up 37.2% compared to the same quarter last year.

UFP Technologies Trading Down 9.7%

NASDAQ UFPT traded down $23.38 during trading on Wednesday, hitting $217.38. 115,376 shares of the company's stock traded hands, compared to its average volume of 136,741. The stock has a fifty day moving average of $238.69 and a two-hundred day moving average of $233.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45. UFP Technologies has a 12-month low of $178.26 and a 12-month high of $366.41. The firm has a market cap of $1.68 billion, a P/E ratio of 25.19 and a beta of 1.14.

Analysts Set New Price Targets

Separately, Lake Street Capital set a $252.00 price target on shares of UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th.

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the transaction, the senior vice president directly owned 12,585 shares of the company's stock, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in UFP Technologies by 123.1% in the first 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 in the last quarter. Jane Street Group LLC raised its stake in UFP Technologies by 383.0% in the first quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company's stock worth $4,761,000 after buying an additional 18,718 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in UFP Technologies by 11.5% in the first 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 worth $2,593,000 after buying an additional 1,327 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of UFP Technologies during the first quarter valued at approximately $172,000. 87.28% of the stock is owned by institutional investors.

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.