Portside Wealth Group LLC Boosts Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Portside Wealth Group LLC boosted its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,128 shares of the industrial products company’s stock after acquiring an additional 157 shares during the period. Portside Wealth Group LLC’s holdings in UFP Technologies were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in UFP Technologies during the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. purchased a new stake in UFP Technologies during the fourth quarter valued at approximately $42,000. Venturi Wealth Management LLC purchased a new stake in UFP Technologies during the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC lifted its position in UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 66 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in UFP Technologies during the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Trading Up 0.2%

NASDAQ UFPT opened at $238.68 on Wednesday. The company has a fifty day simple moving average of $221.73 and a two-hundred day simple moving average of $240.85. The stock has a market cap of $1.84 billion, a P/E ratio of 34.05 and a beta of 1.12. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.42. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $148.15 million during the quarter, compared to analysts’ expectations of $139.93 million.

Insider Buying and Selling

In related news, SVP Christopher P. Litterio sold 1,473 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the transaction, the senior vice president now owns 12,585 shares of the company’s stock, valued at $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Lake Street Capital set a $252.00 price target on shares of UFP Technologies and gave the stock a “buy” rating in a report on Wednesday, May 7th. Raymond James assumed coverage on shares of UFP Technologies in a report on Friday, March 28th. They issued a “market perform” rating for the company.

UFP Technologies Company Profile

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.