Blue Buffalo Pet Products (BUFF) launched its IPO on Wednesday, with shares of the company becoming publicly traded on the NASDAQ Global Select Market. Results from its first day of trading were very positive, as the company’s stock climbed as high as $27.45 before eventually closing at a price of $27.20 per share, an increase of 36% for the day.

Blue Buffalo was able to raise $677 million with its IPO, making the offering the 5th largest thus far in 2015, and giving the BUFF a market value of $4.1 billion. The all-natural pet food provider offered 33.8 million shares that were priced at $20 per share Tuesday evening. The original offering was set to offer 29.5 million shares with a price target of $16-$18. All proceeds from the offering will go to current investors in the company. 

Blue Buffalo had investors wagging their tails with excitement in the time leading up to the offering, mainly due to its consistent year to year growth and impressive profitability. The company reported revenue of $918 million in 2014, a 28% increase in revenue from the previous year. The company also reported net income of $102 million, producing a net margin of 11.11% for the year.

Blue Buffalo was able to see an impressive first day of trading, but with a reported market share of just 6% and feeding only an estimated 2%-3% of the 165 million dogs in the U.S., the company still has the room and the potential to see growth moving forward. Just as humans have done in their own lives, they are increasingly vigilant in what their pet’s diets consist of, which is where the all-natural pet food provider Blue Buffalo stands to profit from.
 
How Blue Buffalo’s stock is able to perform in the market in the coming months will definitely be something to watch for. It is very early, but Blue Buffalo may just be a stock investors will be hearing a great deal about as the company attempts to grow and expand.