Rice Hall James & Associates LLC acquired a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,034 shares of the industrial products company’s stock, valued at approximately $9,023,000.
Several other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in shares of UFP Technologies during the fourth quarter valued at about $28,000. Versant Capital Management Inc boosted its holdings in UFP Technologies by 1,291.7% during the second quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 155 shares during the last quarter. Smartleaf Asset Management LLC grew its position in UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 165 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in UFP Technologies in the 2nd quarter worth about $49,000. Finally, PNC Financial Services Group Inc. increased its stake in UFP Technologies by 66.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after buying an additional 94 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.
Insiders Place Their Bets
In other news, Director Symeria Hudson sold 1,926 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $324.58, for a total transaction of $625,141.08. Following the completion of the transaction, the director directly owned 1,225 shares of the company’s stock, valued at $397,610.50. This represents a 61.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cynthia L. Feldmann sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $324.26, for a total transaction of $324,260.00. Following the sale, the director owned 4,476 shares of the company’s stock, valued at approximately $1,451,387.76. The trade was a 18.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 19,821 shares of company stock valued at $6,233,637. Company insiders own 4.59% of the company’s stock.
UFP Technologies Trading Down 0.1%
UFP Technologies (NASDAQ:UFPT – Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.61. The company had revenue of $173.96 million for the quarter, compared to the consensus estimate of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. Equities research analysts predict that UFP Technologies, Inc. will post 10.54 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Wall Street Zen raised shares of UFP Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings raised UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on UFPT
UFP Technologies 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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