Zacks Investment Research downgraded shares of UFP Technologies Inc. (NASDAQ:UFPT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Separately, TheStreet upgraded shares of UFP Technologies from a hold rating to a buy rating in a research report on Friday, August 19th.

UFP Technologies (NASDAQ:UFPT) traded down 0.291% during trading on Wednesday, hitting $25.675. 8,670 shares of the company traded hands. UFP Technologies has a 52-week low of $20.40 and a 52-week high of $27.50. The company’s 50-day moving average is $26.11 and its 200 day moving average is $24.07. The firm has a market cap of $185.58 billion, a price-to-earnings ratio of 22.924 and a beta of 0.58.

Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of UFP Technologies by 420,000.0% in the third quarter. Wells Fargo & Company MN now owns 4,201 shares of the company’s stock worth $111,000 after buying an additional 4,200 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of UFP Technologies during the third quarter worth about $143,000. Nationwide Fund Advisors acquired a new position in shares of UFP Technologies during the second quarter worth about $190,000. Teachers Advisors Inc. acquired a new position in shares of UFP Technologies during the second quarter worth about $223,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of UFP Technologies during the second quarter worth about $224,000. Institutional investors and hedge funds own 65.73% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

5 Day Chart for NASDAQ:UFPT

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