UFP Technologies (NASDAQ:UFPT) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $222.86 and traded as high as $228.08. UFP Technologies shares last traded at $224.51, with a volume of 129,603 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, UFP Technologies currently has a consensus rating of “Hold” and an average target price of $289.00.

UFP Technologies Price Performance

The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average is $208.25 and its two-hundred day moving average is $222.86. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 25.41 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 for the quarter, beating the consensus estimate of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm had revenue of $154.20 million during the quarter, compared to the consensus estimate of $154.78 million. During the same quarter last year, the firm earned $2.47 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, research analysts predict that UFP Technologies, Inc. will post 10.23 earnings per share for the current year.

Insider Activity at UFP Technologies

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of the business’s 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 completion of the transaction, 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 the SEC website. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UFP Technologies

Several institutional investors have recently modified their holdings of UFPT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $873,000 after acquiring an additional 190 shares in the last quarter. Millennium Management LLC grew its stake in shares of UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 51,741 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of UFP Technologies in the first quarter worth $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of UFP Technologies by 11.5% in the first 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 acquiring an additional 1,327 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of UFP Technologies by 383.0% in the first quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock worth $4,761,000 after acquiring an additional 18,718 shares in the last quarter. Institutional investors and hedge funds 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.