Oppenheimer Asset Management Inc. trimmed its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,509 shares of the industrial products company’s stock after selling 286 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.31% of UFP Technologies worth $637,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. American International Group Inc. boosted its holdings in UFP Technologies by 6.9% during the first quarter. American International Group Inc. now owns 3,939 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 255 shares during the period. Cubic Asset Management LLC lifted its stake in shares of UFP Technologies by 1.4% in the second quarter. Cubic Asset Management LLC now owns 42,999 shares of the industrial products company’s stock valued at $1,217,000 after buying an additional 605 shares during the period. Oxford Asset Management lifted its stake in shares of UFP Technologies by 6.2% in the first quarter. Oxford Asset Management now owns 17,885 shares of the industrial products company’s stock valued at $463,000 after buying an additional 1,038 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of UFP Technologies by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 41,584 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 1,041 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of UFP Technologies by 0.5% in the first quarter. Wellington Management Group LLP now owns 391,754 shares of the industrial products company’s stock valued at $10,146,000 after buying an additional 2,000 shares during the period. Institutional investors own 68.21% of the company’s stock.

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Separately, Zacks Investment Research upgraded shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 17th.

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) opened at 26.90 on Thursday. The company has a 50 day moving average of $27.55 and a 200 day moving average of $26.78. UFP Technologies, Inc. has a 1-year low of $22.95 and a 1-year high of $29.00. The company has a market cap of $195.48 million, a PE ratio of 21.87 and a beta of 0.20.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $37.89 million during the quarter, compared to the consensus estimate of $40.00 million. UFP Technologies had a net margin of 6.03% and a return on equity of 6.86%. Equities analysts expect that UFP Technologies, Inc. will post $1.41 earnings per share for the current fiscal year.

UFP Technologies Profile

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.

Institutional Ownership by Quarter for UFP Technologies (NASDAQ:UFPT)

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