UFP Technologies (NASDAQ:UFPT) posted its earnings results on Thursday. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.01, MarketWatch Earnings reports. The company had revenue of $47.81 million during the quarter, compared to analyst estimates of $49.80 million. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%.
Shares of UFPT opened at $34.23 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.83 and a quick ratio of 1.91. UFP Technologies has a 52-week low of $26.00 and a 52-week high of $39.98. The company has a market capitalization of $254.05 million, a P/E ratio of 22.27 and a beta of 0.12.
In related news, CFO Ronald J. Lataille sold 10,548 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $36.04, for a total value of $380,149.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R Jeffrey Bailly sold 5,083 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $35.71, for a total value of $181,513.93. Following the completion of the transaction, the insider now owns 531,394 shares of the company’s stock, valued at $18,976,079.74. The disclosure for this sale can be found here. Insiders sold a total of 57,319 shares of company stock valued at $2,044,353 over the last quarter. 12.30% of the stock is owned by insiders.
A hedge fund recently raised its stake in UFP Technologies stock. Bank of New York Mellon Corp lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 19.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,195 shares of the industrial products company’s stock after purchasing an additional 9,696 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of UFP Technologies worth $1,857,000 as of its most recent SEC filing. Institutional investors and hedge funds own 68.77% of the company’s stock.
UFPT has been the subject of several analyst reports. Zacks Investment Research upgraded UFP Technologies from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Saturday, September 1st. Taglich Brothers restated a “buy” rating on shares of UFP Technologies in a research report on Wednesday, August 29th. ValuEngine upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, BidaskClub upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, September 20th.
About UFP Technologies
UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.
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