UFP Technologies (UFPT) Downgraded to “Sell” at Zacks Investment Research
UFP Technologies (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
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. “
Shares of UFP Technologies (UFPT) opened at $29.15 on Friday. The stock has a market cap of $211.85, a price-to-earnings ratio of 26.74 and a beta of 0.13. UFP Technologies has a 1 year low of $22.95 and a 1 year high of $31.50.
Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new stake in shares of UFP Technologies during the 3rd quarter worth $128,000. New York State Common Retirement Fund lifted its position in shares of UFP Technologies by 559.1% during the 2nd quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 5,597 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of UFP Technologies by 21.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 1,237 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of UFP Technologies during the 3rd quarter worth $243,000. Finally, Wells Fargo & Company MN lifted its position in shares of UFP Technologies by 44.7% during the 3rd quarter. Wells Fargo & Company MN now owns 8,957 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 2,766 shares during the last quarter. 69.25% of the stock is owned by institutional investors and hedge funds.
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.
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