Vestcor Inc Sells 68 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Vestcor Inc reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 5.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,105 shares of the industrial products company’s stock after selling 68 shares during the period. Vestcor Inc’s holdings in UFP Technologies were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in UFPT. AlphaQuest LLC purchased a new stake in UFP Technologies during the fourth quarter valued at about $25,000. Truvestments Capital LLC bought a new position in shares of UFP Technologies during the 3rd quarter valued at about $56,000. Venturi Wealth Management LLC bought a new stake in UFP Technologies in the 4th quarter worth approximately $74,000. EverSource Wealth Advisors LLC boosted its stake in UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after buying an additional 66 shares in the last quarter. Finally, KBC Group NV grew its position in UFP Technologies by 42.4% during the third quarter. KBC Group NV now owns 272 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 81 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Stock Up 2.7 %

UFPT opened at $216.30 on Tuesday. UFP Technologies, Inc. has a 12 month low of $188.50 and a 12 month high of $366.41. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $249.97 and its 200-day moving average price is $280.81. The company has a market cap of $1.66 billion, a P/E ratio of 30.86 and a beta of 1.15.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.01 by $0.45. The company had revenue of $144.07 million for the quarter, compared to the consensus estimate of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

Insider Buying and Selling at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of UFP Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.17% of the company’s stock.

About UFP Technologies

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.