UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,704 shares of the industrial products company’s stock after selling 8,466 shares during the quarter. Ameriprise Financial Inc. owned about 0.32% of UFP Technologies worth $6,040,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wasatch Advisors LP raised its stake in UFP Technologies by 37.1% during the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company’s stock worth $141,007,000 after purchasing an additional 156,142 shares during the period. Vanguard Group Inc. raised its stake in UFP Technologies by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company’s stock worth $136,309,000 after purchasing an additional 17,356 shares during the period. Congress Asset Management Co. raised its stake in UFP Technologies by 14.2% during the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after purchasing an additional 35,022 shares during the period. Price T Rowe Associates Inc. MD raised its stake in UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock worth $43,625,000 after purchasing an additional 63,899 shares during the period. Finally, Franklin Resources Inc. raised its stake in UFP Technologies by 48.1% during the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company’s stock worth $33,338,000 after purchasing an additional 44,292 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Daniel C. Croteau sold 6,846 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. The trade was a 79.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher P. Litterio sold 1,473 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the sale, the senior vice president now directly owns 12,585 shares in the company, valued at $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UFPT. Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Raymond James began coverage on shares of UFP Technologies in a research note on Friday, March 28th. They set a “market perform” rating on the stock.

UFP Technologies Price Performance

UFP Technologies stock opened at $234.42 on Friday. The company’s 50 day simple moving average is $214.23 and its 200-day simple moving average is $248.08. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 33.44 and a beta of 1.10. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.42. The business had revenue of $148.15 million for the quarter, compared to the consensus estimate of $139.93 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

UFP Technologies 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.