Geneva Capital Management LLC Purchases 74,461 Shares of UFP Technologies, Inc. $UFPT

Geneva Capital Management LLC raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 88.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 158,496 shares of the industrial products company’s stock after purchasing an additional 74,461 shares during the period. Geneva Capital Management LLC’s holdings in UFP Technologies were worth $31,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Capital Management LLC boosted its position in shares of UFP Technologies by 11.4% during the 2nd quarter. Brown Capital Management LLC now owns 170,811 shares of the industrial products company’s stock valued at $41,705,000 after acquiring an additional 17,493 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in UFP Technologies by 469.4% in 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 in the last quarter. Ashford Capital Management Inc. bought a new position in UFP Technologies during the second quarter worth about $17,284,000. Public Sector Pension Investment Board lifted its stake in UFP Technologies by 20.7% during the third quarter. Public Sector Pension Investment Board now owns 30,119 shares of the industrial products company’s stock worth $6,012,000 after purchasing an additional 5,174 shares during the period. Finally, Applied Fundamental Research LLC boosted its holdings in UFP Technologies by 23.6% during the third quarter. Applied Fundamental Research LLC now owns 48,753 shares of the industrial products company’s stock valued at $9,731,000 after purchasing an additional 9,314 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UFPT shares. Wall Street Zen lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Stock Performance

NASDAQ UFPT opened at $214.86 on Wednesday. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $274.93. The company has a 50 day moving average of $242.68 and a 200-day moving average of $222.44. The company has a current ratio of 2.68, a quick ratio of 1.52 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 24.47 and a beta of 1.13.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Tuesday, February 24th. The industrial products company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.18. UFP Technologies had a return on equity of 19.36% and a net margin of 11.33%.The business had revenue of $148.92 million for the quarter, compared to analyst estimates of $149.07 million. During the same period in the prior year, the company earned $2.10 EPS. UFP Technologies’s revenue for the quarter was up 3.4% on a year-over-year basis.

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.