Key Points
- Director Daniel Croteau sold 2,864 shares of UFP Technologies at an average price of $221.71, totaling about $635,000. After the sale, he owned 855 shares, reducing his stake by 77.01%.
- UFP Technologies reported stronger-than-expected quarterly earnings, posting EPS of $2.48 versus analyst estimates of $2.18. Revenue came in at $154.2 million, roughly in line with expectations and up 4.1% year over year.
- Analysts and investors remain cautiously positive: the stock currently has a consensus rating of “Hold” with an average target price of $289, while institutional ownership stands at 87.28% of shares outstanding.
UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) Director Daniel Croteau sold 2,864 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the transaction, the director directly owned 855 shares of the company's stock, valued at approximately $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
UFP Technologies Trading Down 0.6%
Shares of UFPT opened at $219.23 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. The firm has a 50 day simple moving average of $201.18 and a 200-day simple moving average of $222.13. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $274.93. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 24.88 and a beta of 1.08.
UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts' consensus estimates of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The business had revenue of $154.20 million during the quarter, compared to analysts' expectations of $154.78 million. During the same period last year, the company posted $2.47 EPS. The company's revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.
Hedge Funds Weigh In On UFP Technologies
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in UFP Technologies by 892.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company's stock worth $55,091,000 after buying an additional 223,121 shares during the period. Congress Asset Management Co. increased its stake in UFP Technologies by 32.4% during the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company's stock worth $97,942,000 after buying an additional 107,908 shares during the period. Wasatch Advisors LP increased its stake in UFP Technologies by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company's stock worth $163,420,000 after buying an additional 93,640 shares during the period. Boston Trust Walden Corp increased its stake in UFP Technologies by 36.3% during the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company's stock worth $61,385,000 after buying an additional 84,396 shares during the period. Finally, Geneva Capital Management LLC increased its stake in UFP Technologies by 88.6% during the 3rd quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company's stock worth $31,636,000 after buying an additional 74,461 shares during the period. Institutional investors and hedge funds own 87.28% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on UFPT shares. Zacks Research upgraded shares of UFP Technologies from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, UFP Technologies presently has an average rating of "Hold" and an average target price of $289.00.
Check Out Our Latest Research Report on UFPT
About UFP Technologies
(
Get Free Report)
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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