First Trust Advisors LP Increases Holdings in UFP Technologies, Inc. $UFPT

First Trust Advisors LP boosted its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 160.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,941 shares of the industrial products company’s stock after purchasing an additional 17,195 shares during the period. First Trust Advisors LP’s holdings in UFP Technologies were worth $5,409,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of UFP Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock worth $873,000 after purchasing an additional 190 shares in the last quarter. Millennium Management LLC boosted its position in shares of UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after buying an additional 51,741 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of UFP Technologies in the first quarter valued at about $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of UFP Technologies by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock valued at $2,593,000 after buying an additional 1,327 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of UFP Technologies by 383.0% during the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock valued at $4,761,000 after buying an additional 18,718 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the transaction, the director directly owned 855 shares of the company’s stock, valued at $189,562.05. This represents a 77.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.59% of the company’s stock.

UFP Technologies Trading Up 5.0%

NASDAQ:UFPT opened at $267.53 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91. UFP Technologies, Inc. has a one year low of $173.86 and a one year high of $279.49. The business’s 50-day simple moving average is $242.65 and its 200 day simple moving average is $228.39. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 30.37 and a beta of 1.07.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.61. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The firm had revenue of $173.96 million during the quarter, compared to the consensus estimate of $159.38 million. As a group, sell-side analysts predict that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, UFP Technologies presently has a consensus rating of “Hold” and an average price target of $289.00.

UFP Technologies Profile

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.