Oppenheimer Asset Management Inc. purchased a new position in UFP Technologies, Inc. (NASDAQ:UFPT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 22,795 shares of the industrial products company’s stock, valued at approximately $590,000. Oppenheimer Asset Management Inc. owned approximately 0.32% of UFP Technologies as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. American International Group Inc. raised its stake in shares of UFP Technologies by 6.9% in the first quarter. American International Group Inc. now owns 3,939 shares of the industrial products company’s stock worth $102,000 after buying an additional 255 shares in the last quarter. Oxford Asset Management raised its position in UFP Technologies by 6.2% in the first quarter. Oxford Asset Management now owns 17,885 shares of the industrial products company’s stock valued at $463,000 after buying an additional 1,038 shares in the last quarter. Bank of New York Mellon Corp raised its position in UFP Technologies by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 41,584 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 1,041 shares in the last quarter. Wellington Management Group LLP raised its position in UFP Technologies by 0.5% in the first quarter. Wellington Management Group LLP now owns 391,754 shares of the industrial products company’s stock valued at $10,146,000 after buying an additional 2,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of UFP Technologies by 5.0% in the first quarter. Geode Capital Management LLC now owns 52,650 shares of the industrial products company’s stock valued at $1,363,000 after buying an additional 2,491 shares during the period. 64.12% of the stock is owned by hedge funds and other institutional investors.
UFP Technologies, Inc. (NASDAQ:UFPT) traded up 1.07% on Friday, reaching $28.40. The company had a trading volume of 20,870 shares. The stock’s 50 day moving average price is $27.83 and its 200-day moving average price is $26.07. The stock has a market capitalization of $205.36 million, a PE ratio of 22.74 and a beta of 0.18. UFP Technologies, Inc. has a 12-month low of $22.46 and a 12-month high of $28.55.
UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.07. The firm had revenue of $37.05 million for the quarter, compared to the consensus estimate of $36.20 million. UFP Technologies had a net margin of 6.10% and a return on equity of 6.73%. Equities analysts expect that UFP Technologies, Inc. will post $1.39 earnings per share for the current fiscal year.
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UFPT has been the subject of several research reports. TheStreet upgraded UFP Technologies from a “c+” rating to a “b” rating in a research report on Monday, May 1st. Zacks Investment Research upgraded UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 17th.
In other news, insider R Jeffrey Bailly sold 51,049 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $26.57, for a total value of $1,356,371.93. Following the transaction, the insider now directly owns 571,134 shares of the company’s stock, valued at $15,175,030.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 13.30% of the company’s stock.
UFP Technologies Company Profile
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.
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