UFP Technologies, Inc. $UFPT Shares Bought by LPL Financial LLC

LPL Financial LLC raised its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 54.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,150 shares of the industrial products company’s stock after acquiring an additional 4,999 shares during the period. LPL Financial LLC owned 0.18% of UFP Technologies worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of UFPT. JPMorgan Chase & Co. boosted its stake in UFP Technologies by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 11,573 shares of the industrial products company’s stock valued at $2,830,000 after acquiring an additional 525 shares in the last quarter. Wells Fargo & Company MN boosted its stake in UFP Technologies by 24.4% in the fourth quarter. Wells Fargo & Company MN now owns 8,312 shares of the industrial products company’s stock valued at $2,032,000 after acquiring an additional 1,629 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in UFP Technologies by 60.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 20,812 shares of the industrial products company’s stock valued at $5,089,000 after acquiring an additional 7,865 shares in the last quarter. Legal & General Group Plc boosted its stake in UFP Technologies by 3.6% in the fourth quarter. Legal & General Group Plc now owns 20,811 shares of the industrial products company’s stock valued at $5,088,000 after acquiring an additional 717 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in UFP Technologies in the fourth quarter valued at $16,808,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th.

UFP Technologies Stock Down 2.0%

UFPT opened at $219.54 on Monday. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. The business has a 50 day moving average price of $235.49 and a two-hundred day moving average price of $229.70. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.69 billion, a PE ratio of 25.44 and a beta of 1.14.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.25. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%. The company had revenue of $151.18 million for the quarter, compared to the consensus estimate of $151.55 million. During the same period last year, the business posted $1.86 EPS. The company’s revenue was up 37.2% on a year-over-year basis.

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.