UFP Technologies (UFPT) Cut to Hold at ValuEngine

ValuEngine downgraded shares of UFP Technologies (NASDAQ:UFPT) from a buy rating to a hold rating in a report published on Tuesday.

Several other research firms also recently issued reports on UFPT. BidaskClub upgraded UFP Technologies from a hold rating to a buy rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded UFP Technologies from a hold rating to a buy rating and set a $40.00 price target for the company in a research note on Saturday, September 1st. Finally, Taglich Brothers reiterated a buy rating on shares of UFP Technologies in a research note on Wednesday, August 29th.

UFPT opened at $35.24 on Tuesday. The stock has a market cap of $256.11 million, a PE ratio of 28.19 and a beta of 0.01. UFP Technologies has a 52-week low of $26.00 and a 52-week high of $39.98. The company has a quick ratio of 1.91, a current ratio of 2.83 and a debt-to-equity ratio of 0.28.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $49.02 million during the quarter, compared to the consensus estimate of $49.50 million. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%. On average, equities research analysts forecast that UFP Technologies will post 2.12 earnings per share for the current year.

In related news, CFO Ronald J. Lataille sold 10,548 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $36.04, for a total transaction of $380,149.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W David Smith sold 7,286 shares of the stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $34.58, for a total value of $251,949.88. Following the sale, the vice president now owns 19,837 shares of the company’s stock, valued at approximately $685,963.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,619 shares of company stock valued at $2,296,779. 12.30% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems bought a new stake in UFP Technologies during the 3rd quarter valued at approximately $110,000. Northern Trust Corp lifted its position in shares of UFP Technologies by 2.0% in the 2nd quarter. Northern Trust Corp now owns 89,542 shares of the industrial products company’s stock worth $2,762,000 after acquiring an additional 1,791 shares during the period. Bank of New York Mellon Corp lifted its position in shares of UFP Technologies by 19.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 60,195 shares of the industrial products company’s stock worth $1,857,000 after acquiring an additional 9,696 shares during the period. Quantum Capital Management lifted its position in shares of UFP Technologies by 24.6% in the 2nd quarter. Quantum Capital Management now owns 31,989 shares of the industrial products company’s stock worth $987,000 after acquiring an additional 6,312 shares during the period. Finally, Cove Street Capital LLC lifted its position in shares of UFP Technologies by 5.8% in the 2nd quarter. Cove Street Capital LLC now owns 711,072 shares of the industrial products company’s stock worth $21,936,000 after acquiring an additional 39,090 shares during the period. Hedge funds and other institutional investors own 68.73% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

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