UFP Technologies, Inc. (NASDAQ:UFPT) – Investment analysts at Taglich Brothers lowered their FY2017 EPS estimates for UFP Technologies in a note issued to investors on Wednesday, Zacks Investment Research reports. Taglich Brothers analyst J. Nobile now expects that the industrial products company will earn $1.12 per share for the year, down from their prior forecast of $1.41. Taglich Brothers also issued estimates for UFP Technologies’ Q4 2017 earnings at $0.23 EPS.
Separately, Zacks Investment Research upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Saturday, September 23rd.
Shares of UFP Technologies (NASDAQ:UFPT) traded down $0.25 during mid-day trading on Monday, reaching $28.25. 7,250 shares of the company’s stock were exchanged, compared to its average volume of 21,336. UFP Technologies has a 1-year low of $22.95 and a 1-year high of $31.50. The company has a market cap of $199.13, a PE ratio of 25.14 and a beta of 0.12.
UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.13). UFP Technologies had a net margin of 5.43% and a return on equity of 6.83%. The business had revenue of $35.68 million for the quarter, compared to the consensus estimate of $38.70 million.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of UFP Technologies by 13.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 168,432 shares of the industrial products company’s stock valued at $4,733,000 after purchasing an additional 19,602 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of UFP Technologies by 44.7% during the 3rd quarter. Wells Fargo & Company MN now owns 8,957 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 2,766 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of UFP Technologies during the 3rd quarter valued at $128,000. Quantum Capital Management purchased a new position in shares of UFP Technologies during the 3rd quarter valued at $983,000. Finally, Bank of New York Mellon Corp grew its position in shares of UFP Technologies by 11.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 48,603 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 4,994 shares in the last quarter. Hedge funds and other institutional investors own 69.08% of the company’s stock.
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About UFP Technologies
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.
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