UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 11.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,620 shares of the industrial products company’s stock after selling 3,859 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UFP Technologies were worth $5,096,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MetLife Investment Management LLC boosted its stake in shares of UFP Technologies by 57.2% during the first quarter. MetLife Investment Management LLC now owns 3,189 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 1,161 shares during the last quarter. Rothschild & Co. Asset Management US Inc. boosted its stake in shares of UFP Technologies by 0.9% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 23,735 shares of the industrial products company’s stock worth $1,571,000 after purchasing an additional 211 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of UFP Technologies by 36.0% during the first quarter. Loomis Sayles & Co. L P now owns 108,739 shares of the industrial products company’s stock worth $7,195,000 after buying an additional 28,768 shares in the last quarter. State Street Corp raised its position in shares of UFP Technologies by 8.4% in the first quarter. State Street Corp now owns 136,040 shares of the industrial products company’s stock valued at $9,002,000 after buying an additional 10,555 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in UFP Technologies by 6.5% during the first quarter. Wellington Management Group LLP now owns 219,674 shares of the industrial products company’s stock worth $14,536,000 after acquiring an additional 13,479 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Trading Down 3.5 %

Shares of UFPT opened at $217.74 on Friday. UFP Technologies, Inc. has a twelve month low of $127.29 and a twelve month high of $257.29. The firm has a market capitalization of $1.66 billion, a P/E ratio of 37.22 and a beta of 0.83. The company has a current ratio of 2.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10. The stock’s fifty day simple moving average is $216.57 and its 200 day simple moving average is $182.22.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.12 by $0.41. The company had revenue of $101.50 million during the quarter, compared to analyst estimates of $94.80 million. UFP Technologies had a return on equity of 25.48% and a net margin of 11.23%. On average, equities research analysts forecast that UFP Technologies, Inc. will post 6.19 earnings per share for the current year.

Insider Buying and Selling

In other UFP Technologies news, VP Steve Cardin sold 311 shares of UFP Technologies stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total transaction of $61,111.50. Following the transaction, the vice president now directly owns 5,643 shares of the company’s stock, valued at $1,108,849.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Steve Cardin sold 311 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total value of $61,111.50. Following the completion of the sale, the vice president now owns 5,643 shares of the company’s stock, valued at $1,108,849.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher P. Litterio sold 2,000 shares of UFP Technologies stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $208.65, for a total transaction of $417,300.00. Following the transaction, the senior vice president now owns 14,334 shares in the company, valued at approximately $2,990,789.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,125 shares of company stock valued at $6,511,420. 7.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UFPT. KeyCorp began coverage on UFP Technologies in a research note on Tuesday, February 6th. They set a “sector weight” rating on the stock. CJS Securities started coverage on UFP Technologies in a report on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price target for the company. Finally, StockNews.com upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd.

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.