Allspring Global Investments Holdings LLC Acquires New Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Allspring Global Investments Holdings LLC acquired a new stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 14,731 shares of the industrial products company’s stock, valued at approximately $2,971,000. Allspring Global Investments Holdings LLC owned about 0.19% of UFP Technologies as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of UFPT. Charles Schwab Investment Management Inc. grew its position in UFP Technologies by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 67,954 shares of the industrial products company’s stock valued at $16,615,000 after purchasing an additional 855 shares during the last quarter. Arizona State Retirement System grew its position in UFP Technologies by 5.2% during the 4th quarter. Arizona State Retirement System now owns 2,209 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 110 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in UFP Technologies during the 4th quarter valued at about $16,808,000. Mesirow Financial Investment Management Inc. grew its position in UFP Technologies by 102.3% during the 4th 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. Finally, Amundi lifted its stake in UFP Technologies by 197.1% during the 4th quarter. Amundi now owns 3,812 shares of the industrial products company’s stock valued at $957,000 after acquiring an additional 2,529 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction 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 transaction, the senior vice president owned 12,585 shares in the company, valued at $2,770,210.20. This trade represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

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

UFP Technologies Price Performance

UFPT opened at $256.98 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.45 and a current ratio of 2.58. The stock has a market capitalization of $1.98 billion, a P/E ratio of 31.45 and a beta of 1.11. The company’s 50-day simple moving average is $235.22 and its two-hundred day simple moving average is $234.87. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week high of $366.41.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.42. The business had revenue of $148.15 million for the quarter, compared to analysts’ expectations of $139.93 million. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%.

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.