Algert Global LLC Acquires 3,661 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Algert Global LLC lifted its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 500.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,393 shares of the industrial products company's stock after buying an additional 3,661 shares during the period. Algert Global LLC owned about 0.06% of UFP Technologies worth $1,074,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP raised its holdings in UFP Technologies by 37.1% in the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock valued at $141,007,000 after acquiring an additional 156,142 shares during the period. Boston Trust Walden Corp bought a new position in shares of UFP Technologies during the fourth quarter worth approximately $26,395,000. Raymond James Financial Inc. bought a new position in shares of UFP Technologies during the fourth quarter worth approximately $16,808,000. Price T Rowe Associates Inc. MD increased its holdings in shares of UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after purchasing an additional 63,899 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of UFP Technologies by 48.1% during the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock worth $33,338,000 after purchasing an additional 44,292 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Price Performance

UFP Technologies stock traded up $7.06 during mid-day trading on Friday, reaching $250.73. The company had a trading volume of 21,993 shares, compared to its average volume of 84,095. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $366.41. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.93 billion, a P/E ratio of 35.49 and a beta of 1.10. The business has a fifty day simple moving average of $210.95 and a 200 day simple moving average of $249.99.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.42. The firm had revenue of $148.15 million for the quarter, compared to analyst estimates of $139.93 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Analysts Set New Price Targets

UFPT has been the topic of a number of recent analyst reports. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James started coverage on shares of UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock. Finally, StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd.

Insider Transactions at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the completion of the sale, the senior vice president now directly owns 12,585 shares of the company's stock, valued at approximately $2,770,210.20. The trade was a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel C. Croteau sold 6,846 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares of the company's stock, valued at approximately $407,711.85. The trade was a 79.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.17% of the stock is owned by company insiders.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.