UFP Technologies (NASDAQ:UFPT) Posts Earnings Results, Beats Estimates By $0.18 EPS

UFP Technologies (NASDAQ:UFPT) issued its earnings results on Tuesday. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.26 by $0.18, FiscalAI reports. UFP Technologies had a return on equity of 20.45% and a net margin of 11.23%.The company had revenue of $148.92 million during the quarter, compared to the consensus estimate of $149.07 million.

UFP Technologies Stock Down 0.5%

Shares of NASDAQ:UFPT traded down $1.22 during mid-day trading on Tuesday, hitting $240.57. 205,882 shares of the company traded hands, compared to its average volume of 169,870. The stock has a 50-day moving average price of $246.26 and a two-hundred day moving average price of $222.80. UFP Technologies has a 12-month low of $178.26 and a 12-month high of $275.51. The stock has a market cap of $1.85 billion, a P/E ratio of 27.88 and a beta of 1.11. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On UFP Technologies

Hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of UFP Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 190 shares during the last quarter. Millennium Management LLC grew its position in UFP Technologies by 123.1% in the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after purchasing an additional 51,741 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in UFP Technologies in the 1st quarter valued at about $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of UFP Technologies by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock worth $2,593,000 after buying an additional 1,327 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of UFP Technologies by 383.0% during the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock worth $4,761,000 after buying an additional 18,718 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UFPT. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, UFP Technologies has an average rating of “Hold” and a consensus target price of $289.00.

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.