UFP Technologies (NASDAQ:UFPT) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $224.09 and traded as high as $243.32. UFP Technologies shares last traded at $242.95, with a volume of 233,669 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on UFPT shares. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, UFP Technologies has an average rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Trading Up 3.6%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91. The firm has a 50-day moving average of $218.68 and a 200-day moving average of $224.09. The firm has a market capitalization of $1.88 billion, a P/E ratio of 27.58 and a beta of 1.11.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million during the quarter, compared to the consensus estimate of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.47 earnings per share. On average, equities research analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Insider Buying and Selling at UFP Technologies

In other UFP Technologies news, Director Cynthia L. Feldmann sold 1,200 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director owned 5,476 shares in the company, valued at approximately $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Croteau sold 2,864 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the transaction, the director directly owned 855 shares of the company’s stock, valued at approximately $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.59% of the company’s stock.

Institutional Trading of UFP Technologies

Several large investors have recently modified their holdings of UFPT. Bank of America Corp DE raised its position in UFP Technologies by 20.7% during the 1st quarter. Bank of America Corp DE now owns 54,732 shares of the industrial products company’s stock valued at $10,596,000 after purchasing an additional 9,404 shares during the last quarter. Amundi grew its position in shares of UFP Technologies by 69.2% in the 1st quarter. Amundi now owns 1,746 shares of the industrial products company’s stock worth $338,000 after buying an additional 714 shares during the last quarter. California State Teachers Retirement System grew its position in shares of UFP Technologies by 29.5% in the 1st quarter. California State Teachers Retirement System now owns 9,162 shares of the industrial products company’s stock worth $1,774,000 after buying an additional 2,085 shares during the last quarter. Ashford Capital Management Inc. increased its stake in shares of UFP Technologies by 11.7% during the first quarter. Ashford Capital Management Inc. now owns 108,010 shares of the industrial products company’s stock valued at $20,911,000 after buying an additional 11,350 shares during the period. Finally, Rice Hall James & Associates LLC increased its stake in shares of UFP Technologies by 110.0% during the first quarter. Rice Hall James & Associates LLC now owns 21,211 shares of the industrial products company’s stock valued at $4,106,000 after buying an additional 11,111 shares during the period. 87.28% of the stock is owned by institutional investors.

UFP Technologies Company Profile

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.