Fifth Third Bancorp Grows Position in UFP Technologies, Inc. $UFPT

Fifth Third Bancorp raised its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 10,652.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,258 shares of the industrial products company’s stock after acquiring an additional 2,237 shares during the quarter. Fifth Third Bancorp’s holdings in UFP Technologies were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its position in shares of UFP Technologies by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 1,466 shares of the industrial products company’s stock valued at $325,000 after purchasing an additional 46 shares during the period. Guidance Capital Inc. boosted its holdings in UFP Technologies by 2.8% in the 4th quarter. Guidance Capital Inc. now owns 2,337 shares of the industrial products company’s stock worth $519,000 after buying an additional 63 shares during the period. PNC Financial Services Group Inc. grew its stake in UFP Technologies by 66.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after buying an additional 94 shares in the last quarter. Kestra Advisory Services LLC grew its stake in UFP Technologies by 8.1% in the 4th quarter. Kestra Advisory Services LLC now owns 1,316 shares of the industrial products company’s stock valued at $292,000 after buying an additional 99 shares in the last quarter. Finally, State of Wyoming raised its holdings in UFP Technologies by 29.6% during the 4th quarter. State of Wyoming now owns 442 shares of the industrial products company’s stock valued at $98,000 after acquiring an additional 101 shares during the period. Institutional investors own 87.28% of the company’s stock.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the transaction, the director owned 855 shares of the company’s stock, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the sale, the director directly owned 5,476 shares in the company, valued at $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, UFP Technologies presently has a consensus rating of “Hold” and an average price target of $289.00.

UFP Technologies Trading Down 0.0%

Shares of UFPT stock opened at $255.03 on Friday. The company has a market capitalization of $1.97 billion, a PE ratio of 28.95 and a beta of 1.07. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $279.49. The business’s fifty day moving average is $241.36 and its 200 day moving average is $228.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.18 by $0.30. The business had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 earnings per share. On average, equities research analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

UFP Technologies Company Profile

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.