UFP Technologies (NASDAQ:UFPT) Sees Unusually-High Trading Volume After Earnings Beat

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) saw strong trading volume on Wednesday following a stronger than expected earnings report. 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 EPS for the quarter, topping the consensus estimate of $2.26 by $0.18. The business 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 11.23% and a return on equity of 20.45%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.10 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UFPT shares. 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 UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, UFP Technologies has a consensus rating of “Hold” and a consensus target price of $289.00.

Institutional Investors Weigh In On UFP Technologies

Several large investors have recently made changes to their positions in the business. Brown Capital Management LLC increased its position in shares of UFP Technologies by 11.4% during the second quarter. Brown Capital Management LLC now owns 170,811 shares of the industrial products company’s stock valued at $41,705,000 after buying an additional 17,493 shares during the period. Allspring Global Investments Holdings LLC grew its stake in UFP Technologies by 469.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 103,663 shares of the industrial products company’s stock valued at $20,687,000 after acquiring an additional 85,457 shares in the last quarter. Ashford Capital Management Inc. bought a new stake in UFP Technologies during the 2nd quarter worth approximately $17,284,000. Public Sector Pension Investment Board increased its holdings in UFP Technologies by 20.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 30,119 shares of the industrial products company’s stock worth $6,012,000 after acquiring an additional 5,174 shares during the period. Finally, Applied Fundamental Research LLC lifted its stake in UFP Technologies by 23.6% in the 3rd quarter. Applied Fundamental Research LLC now owns 48,753 shares of the industrial products company’s stock worth $9,731,000 after purchasing an additional 9,314 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Stock Performance

The company’s fifty day simple moving average is $246.71 and its 200 day simple moving average is $223.04. The stock has a market capitalization of $1.81 billion, a P/E ratio of 27.29 and a beta of 1.11. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37.

About UFP Technologies

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.