UFP Technologies (NASDAQ:UFPT) Announces Earnings Results

UFP Technologies (NASDAQ:UFPT) issued its earnings results on Tuesday. The industrial products company reported $2.44 EPS for the quarter, topping the consensus estimate of $2.26 by $0.18, FiscalAI reports. The company had revenue of $148.92 million for the quarter, compared to the consensus estimate of $149.07 million. UFP Technologies had a net margin of 11.33% and a return on equity of 19.88%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.10 earnings per share.

UFP Technologies Stock Performance

NASDAQ UFPT opened at $240.16 on Thursday. The business’s 50 day moving average price is $247.03 and its 200-day moving average price is $223.16. UFP Technologies has a fifty-two week low of $178.26 and a fifty-two week high of $274.93. The company has a market cap of $1.85 billion, a P/E ratio of 27.35 and a beta of 1.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.41.

Hedge Funds Weigh In On UFP Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of UFP Technologies by 87.9% during the fourth quarter. Invesco Ltd. now owns 49,888 shares of the industrial products company’s stock valued at $11,077,000 after buying an additional 23,332 shares during the last quarter. Susquehanna Portfolio Strategies LLC boosted its stake in shares of UFP Technologies by 116.6% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 14,349 shares of the industrial products company’s stock valued at $3,186,000 after purchasing an additional 7,725 shares during the period. Man Group plc bought a new position in shares of UFP Technologies in the fourth quarter worth about $664,000. Janus Henderson Group PLC grew its holdings in shares of UFP Technologies by 128.5% in the fourth quarter. Janus Henderson Group PLC now owns 79,391 shares of the industrial products company’s stock worth $17,616,000 after purchasing an additional 44,645 shares during the last quarter. Finally, Gotham Asset Management LLC increased its stake in UFP Technologies by 52.7% in the 4th quarter. Gotham Asset Management LLC now owns 16,749 shares of the industrial products company’s stock worth $3,719,000 after buying an additional 5,782 shares during the period. 87.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on UFPT. Zacks Research upgraded UFP Technologies from a “strong sell” rating to a “hold” rating in a research report 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 data from MarketBeat, UFP Technologies currently has a consensus rating of “Hold” and an average price target of $289.00.

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.