The Manufacturers Life Insurance Company acquired a new stake in UFP Technologies, Inc. (NASDAQ:UFPT – Free Report) during the second quarter, HoldingsChannel.com reports. The fund acquired 3,732 shares of the industrial products company’s stock, valued at approximately $989,000.
Several other large investors also recently modified their holdings of UFPT. BlackRock Inc. acquired a new position in UFP Technologies in the second quarter valued at $302,622,000. Thrivent Financial for Lutherans grew its holdings in UFP Technologies by 892.3% during the 4th 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. Wasatch Advisors LP grew its holdings in UFP Technologies by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock worth $163,420,000 after acquiring an additional 93,640 shares during the period. Neumeier Poma Investment Counsel LLC bought a new position in shares of UFP Technologies in the 2nd quarter worth about $22,423,370. Finally, Boston Trust Walden Corp raised its position in shares of 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 worth $61,385,000 after acquiring an additional 84,396 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. Wall Street Zen raised UFP Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.
Insider Activity at UFP Technologies
In related news, Director Cynthia L. Feldmann sold 1,200 shares of the business’s 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 directly owned 5,476 shares of the company’s stock, valued at $1,310,352.04. The trade was a 17.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Symeria Hudson sold 1,926 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $324.58, for a total value of $625,141.08. Following the transaction, the director directly owned 1,225 shares in the company, valued at approximately $397,610.50. This trade represents a 61.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 27,119 shares of company stock worth $8,460,232 over the last quarter. Company insiders own 4.59% of the company’s stock.
UFP Technologies Stock Up 0.8%
Shares of NASDAQ UFPT opened at $288.79 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of 31.12 and a beta of 1.08. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $338.71. The company’s fifty day simple moving average is $279.96 and its 200 day simple moving average is $237.38. The company has a quick ratio of 1.72, a current ratio of 3.00 and a debt-to-equity ratio of 0.26.
UFP Technologies (NASDAQ:UFPT – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.61. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. The firm had revenue of $173.96 million during the quarter, compared to the consensus estimate of $159.38 million. As a group, sell-side analysts forecast that UFP Technologies, Inc. will post 10.54 earnings per share for the current fiscal year.
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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