UFP Technologies (NASDAQ:UFPT) Sets New 12-Month High – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT)’s stock price hit a new 52-week high during 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report 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 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 data from MarketBeat.com, UFP Technologies has a consensus rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Price Performance

The business’s 50 day moving average is $223.73 and its two-hundred day moving average is $225.39. The firm has a market capitalization of $2.11 billion, a PE ratio of 30.86 and a beta of 1.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.30. The business had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.47 EPS. As a group, research analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Insider Buying and Selling at UFP Technologies

In related news, Director Daniel C. Croteau sold 2,864 shares of the company’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 directly owned 855 shares in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the sale, the director owned 5,476 shares in the company, valued at $1,310,352.04. The trade was a 17.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On UFP Technologies

A number of large investors have recently modified their holdings of UFPT. Global Retirement Partners LLC purchased a new stake in UFP Technologies in the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC raised its stake in shares of UFP Technologies by 1,500.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 165 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of UFP Technologies in the 2nd quarter worth approximately $49,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of UFP Technologies in the 3rd quarter valued at $51,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of UFP Technologies by 66.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 94 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

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.