UFP Technologies (NASDAQ:UFPT) Sets New 52-Week High – Still a Buy?

UFP Technologies, Inc. (NASDAQ:UFPT) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $275.20 and last traded at $273.67, with a volume of 121326 shares trading hands. The stock had previously closed at $265.13.

Wall Street Analysts Forecast Growth

UFPT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. Wall Street Zen raised UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, UFP Technologies has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Trading Up 2.6%

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’s 50 day moving average price is $223.73 and its 200 day moving average price is $225.39. The stock has a market capitalization of $2.11 billion, a P/E ratio of 30.86 and a beta of 1.11.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.30. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The company had revenue of $154.20 million for the quarter, compared to analysts’ expectations of $154.78 million. During the same period last year, the firm earned $2.47 earnings per share. UFP Technologies’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares in the company, valued at $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia L. Feldmann sold 1,200 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the transaction, the director directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of UFP Technologies by 60.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock valued at $37,115,000 after acquiring an additional 62,472 shares in the last quarter. UBS Group AG boosted its stake in UFP Technologies by 22.4% in the 4th quarter. UBS Group AG now owns 189,403 shares of the industrial products company’s stock worth $42,053,000 after purchasing an additional 34,715 shares in the last quarter. Congress Asset Management Co. grew its position 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 valued at $97,942,000 after purchasing an additional 107,908 shares during the last quarter. 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 valued at $31,636,000 after purchasing an additional 74,461 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in UFP Technologies by 3.5% during the 4th quarter. Annex Advisory Services LLC now owns 126,884 shares of the industrial products company’s stock valued at $28,172,000 after purchasing an additional 4,271 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Company Profile

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.