UFP Technologies (NASDAQ:UFPT) Stock Price Up 6.5% – What’s Next?

UFP Technologies, Inc. (NASDAQ:UFPT) rose 6.5% during trading on Friday . The stock traded as high as $236.05 and last traded at $237.3920. Approximately 84,890 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 167,719 shares. The stock had previously closed at $222.83.

Wall Street Analysts Forecast Growth

UFPT has been the subject of several analyst reports. Wall Street Zen lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Zacks Research raised shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Stock Performance

The business’s fifty day moving average is $245.50 and its two-hundred day moving average is $222.56. The stock has a market capitalization of $1.80 billion, a PE ratio of 27.06 and a beta of 1.11. The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On UFP Technologies

Several institutional investors have recently made changes to their positions in UFPT. Wasatch Advisors LP lifted its stake in UFP Technologies by 14.6% in the fourth quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock worth $163,420,000 after acquiring an additional 93,640 shares during the period. Vanguard Group Inc. raised its holdings in shares of UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock valued at $118,470,000 after purchasing an additional 5,957 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of UFP Technologies by 32.4% in the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock worth $97,942,000 after purchasing an additional 107,908 shares during the period. American Century Companies Inc. lifted its position in shares of UFP Technologies by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 325,047 shares of the industrial products company’s stock worth $79,364,000 after purchasing an additional 37,459 shares during the period. Finally, State Street Corp boosted its stake in shares of UFP Technologies by 0.3% during the fourth quarter. State Street Corp now owns 289,775 shares of the industrial products company’s stock valued at $64,339,000 after purchasing an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.