Zacks Investment Research upgraded shares of UFP Technologies, Inc. (NASDAQ:UFPT) from a strong sell rating to a hold rating in a report published on Wednesday, May 17th.
According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “
Separately, TheStreet raised UFP Technologies from a c+ rating to a b rating in a report on Monday, May 1st.
UFP Technologies (NASDAQ UFPT) traded up 0.18% on Wednesday, reaching $27.70. The company’s stock had a trading volume of 34,553 shares. UFP Technologies has a 52 week low of $20.40 and a 52 week high of $28.45. The company has a market capitalization of $200.30 million, a price-to-earnings ratio of 22.18 and a beta of 0.20. The firm’s 50 day moving average price is $27.14 and its 200-day moving average price is $25.59.
UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The business had revenue of $37.05 million for the quarter, compared to the consensus estimate of $36.20 million. UFP Technologies had a return on equity of 6.73% and a net margin of 6.10%. On average, equities analysts predict that UFP Technologies will post $1.39 EPS for the current year.
In related news, insider R Jeffrey Bailly sold 51,049 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $26.57, for a total value of $1,356,371.93. Following the sale, the insider now owns 571,134 shares of the company’s stock, valued at approximately $15,175,030.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 13.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in UFPT. Cove Street Capital LLC boosted its stake in UFP Technologies by 49.2% in the first quarter. Cove Street Capital LLC now owns 659,223 shares of the industrial products company’s stock valued at $17,074,000 after buying an additional 217,385 shares in the last quarter. Renaissance Technologies LLC boosted its stake in UFP Technologies by 0.8% in the first quarter. Renaissance Technologies LLC now owns 535,400 shares of the industrial products company’s stock valued at $13,867,000 after buying an additional 4,300 shares in the last quarter. Thomson Horstmann & Bryant Inc. boosted its stake in UFP Technologies by 5.9% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 456,727 shares of the industrial products company’s stock valued at $11,829,000 after buying an additional 25,380 shares in the last quarter. Wellington Management Group LLP boosted its stake in UFP Technologies by 0.5% in the first quarter. Wellington Management Group LLP now owns 391,754 shares of the industrial products company’s stock valued at $10,146,000 after buying an additional 2,000 shares in the last quarter. Finally, WCM Investment Management CA boosted its stake in UFP Technologies by 4.1% in the first quarter. WCM Investment Management CA now owns 273,961 shares of the industrial products company’s stock valued at $7,096,000 after buying an additional 10,794 shares in the last quarter. 64.12% of the stock is currently owned by institutional investors and hedge funds.
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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