Rhumbline Advisers Has $4.04 Million Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Rhumbline Advisers raised its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,020 shares of the industrial products company’s stock after acquiring an additional 516 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of UFP Technologies worth $4,038,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UFPT. Principal Financial Group Inc. increased its holdings in shares of UFP Technologies by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company’s stock valued at $9,562,000 after purchasing an additional 1,444 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of UFP Technologies in the fourth quarter valued at $340,000. Northern Trust Corp increased its holdings in shares of UFP Technologies by 8.1% in the fourth quarter. Northern Trust Corp now owns 92,064 shares of the industrial products company’s stock valued at $22,511,000 after purchasing an additional 6,873 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of UFP Technologies in the fourth quarter valued at $16,808,000. Finally, Mesirow Financial Investment Management Inc. increased its holdings in shares of UFP Technologies by 102.3% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company’s stock valued at $775,000 after purchasing an additional 1,603 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Trading Down 1.8%

UFPT stock opened at $232.99 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The company’s 50-day simple moving average is $223.48 and its 200 day simple moving average is $240.27. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. The company has a market capitalization of $1.80 billion, a PE ratio of 33.24 and a beta of 1.12.

UFP Technologies (NASDAQ:UFPT) last released its quarterly 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. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $148.15 million for the quarter, compared to the consensus estimate of $139.93 million.

Insider Activity at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the transaction, the senior vice president now directly owns 12,585 shares of the company’s stock, valued at $2,770,210.20. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on UFPT shares. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the company a “buy” rating in a report on Wednesday, May 7th. Raymond James started coverage on shares of UFP Technologies in a report on Friday, March 28th. They issued a “market perform” rating on the stock.

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.