UFP Technologies, Inc. (UFPT) Shares Bought by BlackRock Inc.

BlackRock Inc. boosted its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 340,836 shares of the industrial products company’s stock after acquiring an additional 30,967 shares during the period. BlackRock Inc.’s holdings in UFP Technologies were worth $10,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC raised its holdings in UFP Technologies by 137.0% in the 2nd quarter. Acadian Asset Management LLC now owns 7,337 shares of the industrial products company’s stock valued at $227,000 after buying an additional 4,241 shares during the period. First Trust Advisors LP purchased a new stake in UFP Technologies in the 2nd quarter valued at about $231,000. Wedge Capital Management L L P NC purchased a new stake in UFP Technologies in the 2nd quarter valued at about $1,398,000. Bank of New York Mellon Corp raised its holdings in 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 valued at $1,857,000 after buying an additional 9,696 shares during the period. Finally, Argent Capital Management LLC raised its holdings in UFP Technologies by 12.1% in the 2nd quarter. Argent Capital Management LLC now owns 79,742 shares of the industrial products company’s stock valued at $2,460,000 after buying an additional 8,615 shares during the period. Hedge funds and other institutional investors own 68.77% of the company’s stock.

Shares of NASDAQ:UFPT opened at $34.23 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.91 and a current ratio of 2.83. The stock has a market cap of $251.92 million, a price-to-earnings ratio of 27.38 and a beta of 0.12. UFP Technologies, Inc. has a 1 year low of $26.00 and a 1 year high of $39.98.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Thursday, November 1st. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. The company had revenue of $47.81 million for the quarter, compared to analyst estimates of $49.80 million. UFP Technologies had a net margin of 7.13% and a return on equity of 10.93%. Analysts anticipate that UFP Technologies, Inc. will post 2.12 EPS for the current fiscal year.

Several analysts recently issued reports on UFPT shares. ValuEngine upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. Taglich Brothers reiterated a “buy” rating on shares of UFP Technologies in a research note on Wednesday, August 29th. Zacks Investment Research upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Saturday, September 1st. Finally, BidaskClub lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th.

In other UFP Technologies news, insider R Jeffrey Bailly sold 20,941 shares of the business’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $35.50, for a total transaction of $743,405.50. Following the sale, the insider now directly owns 535,321 shares in the company, valued at $19,003,895.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald J. Lataille sold 10,548 shares of the business’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $36.04, for a total transaction of $380,149.92. The disclosure for this sale can be found here. Insiders have sold 57,319 shares of company stock worth $2,044,353 over the last quarter. Insiders own 12.30% of the company’s stock.

UFP Technologies Profile

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.

Read More: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for UFP Technologies (NASDAQ:UFPT)

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