Lazard Asset Management LLC Invests $84,000 in UFP Technologies, Inc. (NASDAQ:UFPT)

Lazard Asset Management LLC acquired a new position in UFP Technologies, Inc. (NASDAQ:UFPT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 345 shares of the industrial products company’s stock, valued at approximately $84,000.

Several other large investors have also added to or reduced their stakes in UFPT. Arete Wealth Advisors LLC grew its holdings in shares of UFP Technologies by 5.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 958 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 49 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in UFP Technologies by 1.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company’s stock valued at $1,041,000 after purchasing an additional 52 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 66 shares in the last quarter. Anchor Capital Advisors LLC increased its position in shares of UFP Technologies by 1.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company’s stock worth $1,108,000 after purchasing an additional 69 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of UFP Technologies by 1.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company’s stock worth $1,435,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in 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 report on Wednesday, May 7th. Raymond James initiated coverage on shares of UFP Technologies in a research note on Friday, March 28th. They set a “market perform” rating on the stock.

Insider Activity at UFP Technologies

In related news, Director Daniel C. Croteau sold 6,846 shares of the business’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 value of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. The trade was a 79.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Christopher P. Litterio sold 1,473 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $220.12, for a total value of $324,236.76. Following the transaction, the senior vice president now owns 12,585 shares in the company, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

UFP Technologies Trading Up 0.3%

Shares of UFP Technologies stock opened at $234.42 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The business has a fifty day simple moving average of $214.23 and a two-hundred day simple moving average of $246.73. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41. 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 (NASDAQ:UFPT) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.05 by $0.42. The company had revenue of $148.15 million for the quarter, compared to the consensus estimate of $139.93 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

About UFP Technologies

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.