Wasatch Advisors LP Sells 9,779 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Wasatch Advisors LP lessened its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 3.1% during the first quarter, Holdings Channel.com reports. The firm owned 303,435 shares of the industrial products company’s stock after selling 9,779 shares during the period. Wasatch Advisors LP’s holdings in UFP Technologies were worth $76,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of UFP Technologies by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after acquiring an additional 26,269 shares during the last quarter. Congress Asset Management Co. MA increased its stake in UFP Technologies by 174.1% in the 1st quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock valued at $46,893,000 after buying an additional 118,106 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID increased its stake in UFP Technologies by 28.4% in the 1st quarter. Mountain Pacific Investment Advisers Inc. ID now owns 90,373 shares of the industrial products company’s stock valued at $22,792,000 after buying an additional 20,013 shares during the last quarter. Geneva Capital Management LLC increased its stake in UFP Technologies by 72.5% in the 4th quarter. Geneva Capital Management LLC now owns 82,385 shares of the industrial products company’s stock valued at $14,174,000 after buying an additional 34,622 shares during the last quarter. Finally, Ranger Investment Management L.P. increased its stake in UFP Technologies by 5.7% in the 4th quarter. Ranger Investment Management L.P. now owns 69,525 shares of the industrial products company’s stock valued at $11,961,000 after buying an additional 3,750 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Stock Performance

Shares of UFP Technologies stock traded down $5.43 on Tuesday, reaching $283.66. 79,678 shares of the company traded hands, compared to its average volume of 59,648. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $294.43. The company has a 50 day moving average of $253.39 and a 200 day moving average of $216.79. The firm has a market capitalization of $2.18 billion, a PE ratio of 45.60 and a beta of 0.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 1.46.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.66 EPS for the quarter. The company had revenue of $105.01 million during the quarter. UFP Technologies had a net margin of 11.75% and a return on equity of 17.40%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UFPT shares. Lake Street Capital increased their price objective on shares of UFP Technologies from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. CJS Securities initiated coverage on shares of UFP Technologies in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price objective for the company.

UFP Technologies Profile

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.