Northern Trust Corp Sells 2,362 Shares of UFP Technologies, Inc. $UFPT

Northern Trust Corp cut its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 2.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,702 shares of the industrial products company’s stock after selling 2,362 shares during the quarter. Northern Trust Corp owned about 1.16% of UFP Technologies worth $18,094,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC bought a new position in UFP Technologies in the fourth quarter valued at approximately $84,000. Park Square Financial Group LLC bought a new position in UFP Technologies in the fourth quarter valued at approximately $107,000. Dakota Wealth Management bought a new position in UFP Technologies in the first quarter valued at approximately $204,000. Envestnet Portfolio Solutions Inc. boosted its stake in UFP Technologies by 25.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 212 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in UFP Technologies by 263.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 922 shares of the industrial products company’s stock valued at $225,000 after acquiring an additional 668 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital raised 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $289.00.

UFP Technologies Trading Down 0.5%

Shares of NASDAQ UFPT opened at $210.16 on Tuesday. The company’s fifty day moving average is $231.16 and its 200-day moving average is $225.85. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 24.35 and a beta of 1.20. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39.

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

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.