Swedbank AB decreased its stake in UFP Technologies, Inc. (NASDAQ:UFPT – Free Report) by 13.5% during the 4th quarter, Holdings Channel reports. The firm owned 160,005 shares of the industrial products company’s stock after selling 25,000 shares during the quarter. Swedbank AB’s holdings in UFP Technologies were worth $35,526,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of UFPT. Thrivent Financial for Lutherans grew its position in shares of UFP Technologies by 892.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock valued at $55,091,000 after purchasing an additional 223,121 shares during the period. Congress Asset Management Co. lifted its stake in shares of UFP Technologies by 32.4% in 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 in the last quarter. Geneva Capital Management LLC lifted its stake in shares of UFP Technologies by 88.6% in 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of UFP Technologies by 60.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock worth $37,115,000 after buying an additional 62,472 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after buying an additional 51,741 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.
Analyst Ratings Changes
Separately, Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, UFP Technologies presently has an average rating of “Hold” and a consensus price target of $289.00.
UFP Technologies Stock Performance
NASDAQ:UFPT opened at $228.97 on Monday. The company’s 50-day moving average price is $203.01 and its 200-day moving average price is $223.42. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.77 billion, a P/E ratio of 25.99 and a beta of 1.08. UFP Technologies, Inc. has a twelve month low of $173.86 and a twelve month high of $274.93.
UFP Technologies (NASDAQ:UFPT – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million for the quarter, compared to the consensus estimate of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.47 earnings per share. On average, sell-side analysts forecast that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.
Insider Buying and Selling
In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the transaction, the director directly 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 Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by company insiders.
UFP Technologies Company Profile
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.
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