UFP Technologies (NASDAQ:UFPT) Issues Earnings Results

UFP Technologies (NASDAQ:UFPT) posted its quarterly earnings data on Monday. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.22 by $0.17, Zacks reports. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.

UFP Technologies Trading Up 3.3%

UFP Technologies stock traded up $6.41 during midday trading on Monday, reaching $199.05. The stock had a trading volume of 198,082 shares, compared to its average volume of 129,705. The stock’s 50-day simple moving average is $200.43 and its 200 day simple moving average is $220.28. The stock has a market capitalization of $1.53 billion, a PE ratio of 23.06 and a beta of 1.19. UFP Technologies has a twelve month low of $178.26 and a twelve month high of $354.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77.

Institutional Trading of UFP Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP increased its holdings in UFP Technologies by 1.4% in the second quarter. Wasatch Advisors LP now owns 650,960 shares of the industrial products company’s stock valued at $158,938,000 after buying an additional 8,770 shares during the last quarter. Millennium Management LLC raised its stake in 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 period. Cubist Systematic Strategies LLC increased its stake in shares of UFP Technologies by 254.5% in the second quarter. Cubist Systematic Strategies LLC now owns 53,442 shares of the industrial products company’s stock worth $13,048,000 after acquiring an additional 38,366 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in UFP Technologies by 2.9% in the second quarter. Raymond James Financial Inc. now owns 42,336 shares of the industrial products company’s stock worth $10,337,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in UFP Technologies by 7.8% in the second quarter. Public Sector Pension Investment Board now owns 24,945 shares of the industrial products company’s stock worth $6,091,000 after purchasing an additional 1,807 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UFPT. Lake Street Capital increased their target price on UFP Technologies from $252.00 to $289.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $289.00.

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.