UFP Technologies (NASDAQ:UFPT) Sets New 52-Week High Following Earnings Beat

Key Points

• UFP Technologies beat quarterly expectations, reporting EPS of $2.92 versus the $2.31 consensus and revenue of $173.96 million versus $159.38 million expected.
• The stock reached a new 52-week high after the earnings report, while analysts maintained a consensus “Hold” rating with an average price target of $289.
• Institutional investors own 87.28% of the company, although two directors recently sold shares, reducing their respective holdings by 17.97% and 77.01%.

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $297.50 and last traded at $327.5470, with a volume of 1116 shares. The stock had previously closed at $267.53.

The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.61. The firm had revenue of $173.96 million during the quarter, compared to the consensus estimate of $159.38 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of UFP Technologies in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $289.00.

Insider Buying and Selling

In other news, Director Cynthia L. Feldmann sold 1,200 shares of UFP Technologies stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the transaction, the director directly owned 5,476 shares in the company, valued at $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel C. Croteau sold 2,864 shares of the company'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 completion of the sale, the director owned 855 shares in the company, valued at $189,562.05. This represents a 77.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.59% of the company's stock.

Institutional Investors Weigh In On UFP Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of UFPT. Thrivent Financial for Lutherans grew its holdings in shares of UFP Technologies by 892.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company's stock valued at $55,091,000 after acquiring an additional 223,121 shares in the last quarter. Wasatch Advisors LP boosted its position in UFP Technologies by 14.6% in the fourth quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company's stock worth $163,420,000 after purchasing an additional 93,640 shares during the last quarter. Boston Trust Walden Corp grew its stake in UFP Technologies by 36.3% in the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company's stock valued at $61,385,000 after purchasing an additional 84,396 shares during the period. Neumeier Poma Investment Counsel LLC bought a new position in UFP Technologies in the 4th quarter valued at $11,572,000. Finally, Millennium Management LLC increased its position in shares of UFP Technologies by 123.1% during the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company's stock valued at $18,915,000 after purchasing an additional 51,741 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Stock Up 20.5%

The company has a market capitalization of $2.49 billion, a P/E ratio of 36.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91. The stock has a 50 day moving average price of $242.65 and a 200 day moving average price of $228.39.

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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