Envestnet Asset Management Inc. Has $18.62 Million Stake in UFP Technologies, Inc. $UFPT

Envestnet Asset Management Inc. increased its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 93,302 shares of the industrial products company’s stock after buying an additional 6,742 shares during the period. Envestnet Asset Management Inc. owned 1.21% of UFP Technologies worth $18,623,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of UFP Technologies by 469.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 103,663 shares of the industrial products company’s stock worth $20,687,000 after purchasing an additional 85,457 shares during the period. Ashford Capital Management Inc. bought a new stake in shares of UFP Technologies during the 2nd quarter valued at $17,284,000. Millennium Management LLC grew its holdings in shares of UFP Technologies by 123.1% during the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after purchasing an additional 51,741 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of UFP Technologies by 254.5% in the second quarter. Cubist Systematic Strategies LLC now owns 53,442 shares of the industrial products company’s stock worth $13,048,000 after purchasing an additional 38,366 shares during the period. Finally, Franklin Resources Inc. raised its stake in UFP Technologies by 29.1% in the second quarter. Franklin Resources Inc. now owns 169,877 shares of the industrial products company’s stock valued at $41,477,000 after purchasing an additional 38,320 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Trading Down 0.6%

NASDAQ UFPT opened at $245.81 on Friday. The business’s fifty day moving average is $243.38 and its 200-day moving average is $222.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.41 and a quick ratio of 1.36. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 28.48 and a beta of 1.11. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $275.81.

Analyst Upgrades and Downgrades

Several brokerages have commented on UFPT. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.00.

About UFP Technologies

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.