UFP Technologies (NASDAQ:UFPT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

UFP Technologies, Inc. (NASDAQ:UFPT) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $222.86 and traded as high as $228.08. UFP Technologies shares last traded at $224.51, with a volume of 129,603 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UFPT. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, UFP Technologies has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Stock Performance

The stock’s 50-day moving average price is $207.57 and its 200 day moving average price is $222.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. The firm has a market cap of $1.74 billion, a P/E ratio of 25.48 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 EPS for the quarter, topping analysts’ consensus estimates of $2.18 by $0.30. The business had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.47 earnings per share. As a group, equities analysts predict that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares of the company’s stock, valued at $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently added to or reduced their stakes in UFPT. Thrivent Financial for Lutherans increased its holdings in UFP Technologies by 892.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock worth $55,091,000 after buying an additional 223,121 shares during the last quarter. Congress Asset Management Co. increased its holdings in UFP Technologies by 32.4% during the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock worth $97,942,000 after buying an additional 107,908 shares during the last quarter. Wasatch Advisors LP increased its holdings in UFP Technologies by 14.6% during the fourth quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock worth $163,420,000 after buying an additional 93,640 shares during the last quarter. Boston Trust Walden Corp increased its holdings in UFP Technologies by 36.3% during the first quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock worth $61,385,000 after buying an additional 84,396 shares during the last quarter. Finally, Geneva Capital Management LLC increased its holdings in UFP Technologies by 88.6% during the third quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company’s stock worth $31,636,000 after buying an additional 74,461 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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.