UFP Technologies (NASDAQ:UFPT) Shares Gap Up After Strong Earnings

UFP Technologies, Inc. (NASDAQ:UFPT) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $240.94, but opened at $255.00. UFP Technologies shares last traded at $257.85, with a volume of 15,176 shares trading hands.

The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.45. The company had revenue of $144.07 million during the quarter, compared to analysts’ expectations of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UFPT. Public Employees Retirement System of Ohio increased its position in UFP Technologies by 144.8% in the third quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock worth $5,136,000 after buying an additional 9,593 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in UFP Technologies by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock worth $21,250,000 after acquiring an additional 2,842 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of UFP Technologies in the third quarter worth about $1,176,000. Jane Street Group LLC raised its position in shares of UFP Technologies by 32.2% in the third quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company’s stock valued at $3,668,000 after purchasing an additional 2,822 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in shares of UFP Technologies during the 3rd quarter valued at approximately $9,791,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Performance

The company has a market capitalization of $2.02 billion, a P/E ratio of 37.59 and a beta of 1.04. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $257.78 and its 200 day moving average is $291.72.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.