UFP Technologies (NASDAQ:UFPT) Shares Gap Up on Better-Than-Expected Earnings

Shares of UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $197.42, but opened at $217.88. UFP Technologies shares last traded at $212.34, with a volume of 36,655 shares changing hands.

The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.46. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on UFPT shares. Raymond James assumed coverage on shares of UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock. StockNews.com lowered UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.17% of the company's stock.

Institutional Trading of UFP Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of UFP Technologies by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock valued at $9,562,000 after buying an additional 1,444 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company's stock valued at $9,610,000 after purchasing an additional 30,372 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of UFP Technologies in the fourth quarter valued at approximately $16,808,000. Mesirow Financial Investment Management Inc. raised its holdings in shares of UFP Technologies by 102.3% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company's stock valued at $775,000 after buying an additional 1,603 shares during the last quarter. Finally, Amundi boosted its position in shares of UFP Technologies by 197.1% during the fourth quarter. Amundi now owns 3,812 shares of the industrial products company's stock worth $957,000 after buying an additional 2,529 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The firm has a market capitalization of $1.64 billion, a P/E ratio of 30.49 and a beta of 1.08. The business has a fifty day moving average of $208.38 and a 200-day moving average of $252.04.

UFP Technologies Company Profile

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.

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