Vanguard Group Inc. Increases Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Vanguard Group Inc. boosted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 557,479 shares of the industrial products company’s stock after purchasing an additional 17,356 shares during the period. Vanguard Group Inc. owned approximately 7.27% of UFP Technologies worth $136,309,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp grew its holdings in shares of UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after buying an additional 4,007 shares during the last quarter. Congress Asset Management Co. grew its stake in UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock valued at $68,787,000 after purchasing an additional 35,022 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of UFP Technologies by 2.0% in the third quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock worth $54,799,000 after purchasing an additional 3,333 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in shares of UFP Technologies during the fourth quarter worth about $26,395,000. Finally, Mountain Pacific Investment Advisers LLC boosted its position in UFP Technologies by 0.4% in the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 93,316 shares of the industrial products company’s stock valued at $22,817,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Stock Up 5.4 %

Shares of UFPT stock opened at $196.99 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The stock has a 50 day moving average of $233.33 and a 200 day moving average of $268.02. The stock has a market cap of $1.51 billion, a P/E ratio of 28.10 and a beta of 1.08.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The firm had revenue of $144.07 million during the quarter, compared to analyst estimates of $141.67 million.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Raymond James started coverage on shares of UFP Technologies in a report on Friday, March 28th. They set a “market perform” rating for the company.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the completion of the transaction, the director now directly owns 1,785 shares of the company’s stock, valued at $407,711.85. This represents a 79.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.17% of the company’s stock.

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.