Norden Group LLC Has $422,000 Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Norden Group LLC trimmed its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 44.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093 shares of the industrial products company’s stock after selling 1,652 shares during the period. Norden Group LLC’s holdings in UFP Technologies were worth $422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in UFP Technologies during the 4th quarter valued at $42,000. Lazard Asset Management LLC bought a new position in UFP Technologies in the 4th quarter valued at $84,000. Park Square Financial Group LLC bought a new position in UFP Technologies in the 4th quarter valued at $107,000. Canada Pension Plan Investment Board boosted its position in UFP Technologies by 25.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company’s stock valued at $122,000 after buying an additional 100 shares during the last quarter. Finally, Level Four Advisory Services LLC bought a new position in UFP Technologies in the 4th quarter valued at $225,000. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 directly owned 12,585 shares in the company, valued at $2,770,210.20. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by corporate insiders.

UFP Technologies Stock Down 2.4%

Shares of UFPT opened at $232.07 on Thursday. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. 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 firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 28.41 and a beta of 1.11. The business’s fifty day moving average price is $239.08 and its two-hundred day moving average price is $233.91.

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

Analyst Ratings Changes

Separately, Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the company a “buy” rating in a research report on Wednesday, May 7th.

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.