Wasatch Advisors LP cut its holdings in UFP Technologies, Inc. (NASDAQ:UFPT – Free Report) by 12.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 683,262 shares of the industrial products company’s stock after selling 94,051 shares during the period. UFP Technologies comprises about 1.2% of Wasatch Advisors LP’s holdings, making the stock its 27th biggest position. Wasatch Advisors LP owned about 0.09% of UFP Technologies worth $181,153,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in UFP Technologies by 892.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock worth $55,091,000 after acquiring an additional 223,121 shares during the period. Boston Trust Walden Corp grew its stake in UFP Technologies by 36.3% in the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock valued at $61,385,000 after purchasing an additional 84,396 shares during the period. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of UFP Technologies during the 4th quarter valued at $11,572,000. Millennium Management LLC increased its position in shares of UFP Technologies by 123.1% during the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after purchasing an additional 51,741 shares during the last quarter. Finally, UBS Group AG increased its position in shares of UFP Technologies by 41.8% during the 3rd quarter. UBS Group AG now owns 154,688 shares of the industrial products company’s stock valued at $30,876,000 after purchasing an additional 45,581 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Weiss Ratings raised shares of UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, UFP Technologies currently has an average rating of “Hold”.
UFP Technologies Price Performance
Shares of NASDAQ UFPT opened at $321.91 on Wednesday. The stock has a fifty day simple moving average of $254.48 and a two-hundred day simple moving average of $230.95. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $338.71. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 34.69 and a beta of 1.08. The company has a current ratio of 3.00, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26.
UFP Technologies (NASDAQ:UFPT – Get Free Report) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.61. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%.The firm had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. Analysts anticipate that UFP Technologies, Inc. will post 10.54 earnings per share for the current year.
Insider Buying and Selling at UFP Technologies
In related news, Director Cynthia L. Feldmann sold 1,200 shares of UFP Technologies stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman R Jeffrey Bailly sold 10,682 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $318.63, for a total value of $3,403,605.66. Following the completion of the sale, the chairman owned 18,024 shares in the company, valued at $5,742,987.12. This represents a 37.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,895 shares of company stock valued at $5,284,236 in the last quarter. 4.59% of the stock is owned by corporate insiders.
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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