UFP Technologies (NASDAQ:UFPT) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of UFP Technologies, Inc. (NASDAQ:UFPTGet Free Report) saw unusually-high trading volume on Wednesday following a stronger than expected earnings report. Approximately 323,402 shares changed hands during mid-day trading, an increase of 89% from the previous session’s volume of 171,225 shares.The stock last traded at $233.8610 and had previously closed at $240.57.

The industrial products company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.18. UFP Technologies had a net margin of 11.33% and a return on equity of 19.88%. The company had revenue of $148.92 million during the quarter, compared to analyst estimates of $149.07 million. During the same period in the prior year, the firm earned $2.10 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year.

UFP Technologies News Summary

Here are the key news stories impacting UFP Technologies this week:

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $289.00.

Get Our Latest Report on UFPT

Institutional Investors Weigh In On UFP Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of UFPT. Global Retirement Partners LLC purchased a new position in UFP Technologies in the fourth quarter worth $28,000. Nisa Investment Advisors LLC boosted its position in shares of UFP Technologies by 290.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 121 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 165 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in UFP Technologies by 179.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 173 shares of the industrial products company’s stock worth $42,000 after buying an additional 111 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in UFP Technologies during the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Down 0.2%

The company has a 50-day moving average of $247.03 and a 200-day moving average of $223.16. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 27.35 and a beta of 1.11.

About UFP Technologies

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for UFP Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies and related companies with MarketBeat.com's FREE daily email newsletter.