BlackRock Inc. Purchases New Position in UFP Technologies, Inc. $UFPT

BlackRock Inc. purchased a new position in UFP Technologies, Inc. (NASDAQ:UFPT) in the second quarter, HoldingsChannel reports. The fund purchased 1,141,410 shares of the industrial products company’s stock, valued at approximately $302,622,000. BlackRock Inc. owned approximately 0.15% of UFP Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wasatch Advisors LP boosted its position in UFP Technologies by 5.6% during the 1st quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company’s stock valued at $150,488,000 after acquiring an additional 41,286 shares in the last quarter. Vanguard Group Inc. raised its position in shares of UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock worth $118,470,000 after acquiring an additional 5,957 shares in the last quarter. Boston Trust Walden Corp raised its position in shares of UFP Technologies by 36.3% in the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock worth $61,385,000 after acquiring an additional 84,396 shares in the last quarter. State Street Corp lifted its stake in shares of UFP Technologies by 0.3% in the 4th quarter. State Street Corp now owns 289,775 shares of the industrial products company’s stock valued at $64,339,000 after purchasing an additional 961 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of UFP Technologies by 892.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock valued at $55,091,000 after purchasing an additional 223,121 shares during the period. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Stock Up 0.1%

Shares of UFP Technologies stock opened at $304.57 on Thursday. The company has a 50-day simple moving average of $272.80 and a two-hundred day simple moving average of $235.51. The stock has a market capitalization of $2.36 billion, a PE ratio of 32.82 and a beta of 1.08. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $338.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 3.00.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.61. The firm had revenue of $173.96 million for the quarter, compared to analysts’ expectations of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. On average, analysts anticipate that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

Insider Buying and Selling at UFP Technologies

In related news, Director Cynthia L. Feldmann sold 1,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $324.26, for a total transaction of $324,260.00. Following the sale, the director directly owned 4,476 shares of the company’s stock, valued at $1,451,387.76. This trade represents a 18.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman R Jeffrey Bailly sold 5,013 shares of UFP Technologies stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $317.87, for a total value of $1,593,482.31. Following the completion of the sale, the chairman owned 13,011 shares of the company’s stock, valued at $4,135,806.57. The trade was a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 20,119 shares of company stock worth $6,328,732. Insiders own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded UFP Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.