UFP Technologies, Inc. (UFPT): history, ownership, mission, how it works & makes money

A Brief History of UFP Technologies, Inc. (UFPT)

Founding and Early Years

UFP Technologies, Inc. was founded in 1963 in Georgetown, Massachusetts. The company initially focused on the design and production of custom packaging solutions, specifically utilizing foam and protective materials.

Growth and Expansion

Throughout the 1970s and 1980s, UFP Technologies expanded its manufacturing capabilities and product offerings. By 1991, the company had opened its first modern facility in Massachusetts, with a focus on expanding its custom packaging division.

Public Offering

UFP Technologies went public in 1992, trading on the NASDAQ under the ticker symbol UFPT. The initial public offering (IPO) price was set at $8.00 per share.

Acquisitions

Over the years, UFP Technologies has enhanced its capabilities through strategic acquisitions. Key acquisitions include:

• In 2005, UFP acquired UFP Technologies (Elkhart), Inc., enhancing its automotive and medical market offerings.
• In 2014, the acquisition of UFP Technologies (North Carolina), Inc. expanded its reach in the Southeast region.
• In 2019, UFP acquired GPI, LLC, diversifying its product lines further into medical and durable goods.

Financial Performance

UFP Technologies has demonstrated steady financial growth over the years. The company reported the following financial metrics for the fiscal year 2022:

Product Development

UFP Technologies specializes in several key markets including:

• Medical packaging solutions
• Automotive components
• Consumer product packaging
• Industrial packaging

The company emphasizes innovation, with numerous patents filed for advanced materials and custom packaging designs.

Recent Developments

As of the end of 2023, UFP Technologies reported a stock price of approximately $28.50 per share. The market capitalization stood around $250 million. The company has continued to expand its operations, focusing on sustainability and eco-friendly materials.

A Who Owns UFP Technologies, Inc. (UFPT)

Ownership Structure

As of the latest available data, UFP Technologies, Inc. (UFPT) has a diverse ownership structure composed of institutional investors, individual stockholders, and company executives.

Institutional Ownership

Institutional investors play a crucial role in the ownership of UFP Technologies, Inc. As of October 2023, institutional ownership stands at approximately 75%.

The following table outlines the major institutional shareholders:

Individual Ownership

The individual shareholders of UFP Technologies, Inc. make up the remaining portion of the ownership structure.

As of the most recent report, the top individual shareholders are:

Recent Stock Performance

As of October 2023, the stock price of UFP Technologies, Inc. (UFPT) is approximately $45.00 per share. The company’s market capitalization is about $600 million.

Financial Overview

UFP Technologies, Inc. reported the following financial figures in its most recent quarterly earnings report for Q3 2023:

Recent Changes in Ownership

In the past year, UFP Technologies, Inc. has seen fluctuations in its ownership, with notable transactions including:

• Acquisition of over 200,000 shares by The Vanguard Group.
• BlackRock, Inc. increasing its stake by 50,000 shares.
• Minor selling activity by individual shareholders.

UFP Technologies, Inc. (UFPT) Mission Statement

Mission Overview

The mission of UFP Technologies, Inc. (UFPT) is to provide innovative, sustainable solutions through customized packaging, components, and products for various industries, including medical, automotive, and consumer markets.

Core Values

• Quality Assurance
• Customer Satisfaction
• Innovation
• Sustainability
• Community Involvement

Financial Performance

In the fiscal year 2022, UFP Technologies reported revenues of $225.9 million, reflecting a 19.1% increase from the previous year's $189.5 million.

Market Segmentation

Customer Engagement

UFP Technologies emphasizes customer engagement through a variety of initiatives, such as:

• Regular feedback surveys
• Dedicated customer service teams
• Partnership programs for product development

Environmental Commitment

UFP Technologies is committed to sustainability, aiming to reduce its carbon footprint by 25% over the next five years, alongside increasing the use of recyclable materials in its packaging solutions.

Employee Engagement

The company values its workforce, with an employee satisfaction rate of 87% reported in its latest internal survey conducted in 2022.

Recent Acquisitions

In 2022, UFP Technologies acquired Protek Medical Products for $11 million, expanding its capabilities in the medical packaging segment.

Future Growth Projections

UFP Technologies anticipates a growth rate of 10-15% annually, driven by increased demand in the medical and consumer sectors.

Competitive Landscape

The company competes with leading firms such as:

• Sealed Air Corporation
• Berry Global, Inc.
• DuPont de Nemours, Inc.

Conclusion

The mission statement and operational focus of UFP Technologies, Inc. underscore its commitment to innovation, customer satisfaction, and sustainability while positioning itself for continued growth in competitive markets.

How UFP Technologies, Inc. (UFPT) Works

Overview of UFP Technologies

UFP Technologies, Inc. (UFPT) specializes in custom molded and fabricated components and packaging solutions primarily for the medical, industrial, and consumer markets. The company operates through various segments that focus on different industries, showcasing its ability to adapt to diverse customer needs.

Operational Segments

UFP Technologies operates through the following segments:

• Medical
• Industrial
• Consumer Packaging

Financial Performance

As of the end of fiscal year 2022, UFP Technologies reported the following financial metrics:

Market Focus and Strategy

UFP Technologies emphasizes innovation and customization, which is evident in their approach to product development. The company focuses on:

• Research and Development Investment
• Tailored Solutions for Clients
• Expansion into New Markets

Research and Development

In 2022, UFP Technologies allocated approximately $4.5 million to R&D, representing a significant investment aimed at enhancing product offerings and staying competitive in the marketplace.

Customer Base

The customer base of UFP Technologies includes major corporations across various sectors such as:

• Healthcare Providers
• Manufacturers
• Retail Brands

Global Presence

UFP Technologies has operations across North America and strategically partners with international suppliers to ensure a robust supply chain. The company’s operational headquarters is located in Newburyport, Massachusetts.

Recent Acquisitions

In 2022, UFP Technologies made a crucial acquisition of a company specializing in specialty packaging, which reportedly enhanced their capacity to serve the medical and industrial markets effectively.

Stock Performance

As of October 2023, UFP Technologies' stock (Ticker: UFPT) exhibited the following key statistics:

Conclusion on Operations

UFP Technologies continues to expand its operational capabilities while focusing on innovation and strategic partnerships to enhance its market position.

How UFP Technologies, Inc. (UFPT) Makes Money

Overview of Revenue Streams

UFP Technologies, Inc. generates revenue through several key business segments, primarily focused on advanced protective packaging, custom molded products, and engineered products.

Product Segments

UFPT operates in multiple product segments:

• Protective Packaging
• Custom Molded Products
• Engineered Products

Financial Performance

According to the latest financial reports for the year 2022, UFP Technologies reported the following financial metrics:

Protective Packaging Revenue

In 2022, the protective packaging segment accounted for approximately 63% of total revenue:

Custom Molded Products Revenue

Custom molded products represented around 25% of total revenue in 2022:

Engineered Products Revenue

Engineered products contributed approximately 12% of total revenue in 2022:

Market Dynamics

UFP Technologies' revenue is influenced by various factors:

• Industry Demand
• Raw Material Costs
• Competitive Landscape
• Technological Advancements

Geographical Revenue Distribution

The geographical distribution of UFPT's revenue is as follows:

Conclusion

UFPT’s continued growth is driven by its diverse product offerings and strong performance in the protective packaging sector, supported by strategic market positioning and operational efficiencies.