Allspring Global Investments Holdings LLC Grows Stock Holdings in UFP Technologies, Inc. $UFPT

Allspring Global Investments Holdings LLC increased its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 14.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 189,863 shares of the industrial products company’s stock after buying an additional 23,728 shares during the period. Allspring Global Investments Holdings LLC owned about 2.45% of UFP Technologies worth $36,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of UFP Technologies in the fourth quarter worth $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in UFP Technologies during the 2nd quarter valued at $49,000. PNC Financial Services Group Inc. raised its stake in shares of UFP Technologies by 66.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 94 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in UFP Technologies in the third quarter worth about $51,000. 87.28% of the stock is owned by institutional investors.

UFP Technologies Stock Performance

Shares of UFP Technologies stock opened at $242.05 on Monday. The company has a market capitalization of $1.87 billion, a PE ratio of 27.47 and a beta of 1.07. The company has a 50-day simple moving average of $236.65 and a two-hundred day simple moving average of $227.82. UFP Technologies, Inc. has a one year low of $173.86 and a one year high of $279.49. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.30. The business had revenue of $154.20 million for the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. Research analysts expect that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

UFPT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, UFP Technologies has an average rating of “Hold” and an average target price of $289.00.

Insider Activity at UFP Technologies

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the sale, the director directly owned 855 shares in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the sale, the director directly owned 5,476 shares in the company, valued at $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.59% of the stock is currently owned by insiders.

UFP Technologies Company Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.