UFP Technologies, Inc. (UFPT) Cut to “Hold” at Zacks Investment Research
UFP Technologies, Inc. (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 cut shares of UFP Technologies from a “b” rating to a “c+” rating in a research report on Friday, March 24th.
Shares of UFP Technologies (UFPT) traded up 0.18% during mid-day trading on Wednesday, reaching $27.80. 18,454 shares of the company’s stock traded hands. The firm has a market cap of $201.02 million, a price-to-earnings ratio of 22.26 and a beta of 0.18. UFP Technologies has a 52 week low of $22.31 and a 52 week high of $28.55. The company’s 50 day moving average is $27.76 and its 200-day moving average is $25.95.
UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $37.05 million for the quarter, compared to analysts’ expectations of $36.20 million. UFP Technologies had a net margin of 6.10% and a return on equity of 6.73%. Equities analysts expect that UFP Technologies will post $1.39 earnings per share for the current fiscal year.
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In related news, insider R Jeffrey Bailly sold 51,049 shares of the business’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $26.57, for a total value of $1,356,371.93. Following the sale, the insider now directly owns 571,134 shares of the company’s stock, valued at approximately $15,175,030.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.30% of the company’s stock.
A number of large investors have recently modified their holdings of UFPT. State Street Corp raised its stake in shares of UFP Technologies by 18.1% in the fourth quarter. State Street Corp now owns 86,401 shares of the industrial products company’s stock valued at $2,201,000 after buying an additional 13,211 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of UFP Technologies by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 103,814 shares of the industrial products company’s stock valued at $2,642,000 after buying an additional 23,351 shares during the last quarter. Cove Street Capital LLC raised its stake in shares of 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 during the last quarter. WCM Investment Management CA raised its stake in shares of 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 during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 64.12% of the company’s stock.
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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