Balyasny Asset Management L.P. Grows Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Balyasny Asset Management L.P. boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 178.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,325 shares of the industrial products company's stock after acquiring an additional 3,416 shares during the period. Balyasny Asset Management L.P. owned 0.07% of UFP Technologies worth $1,302,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC acquired a new position in UFP Technologies in the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. acquired a new position in UFP Technologies in the fourth quarter valued at approximately $42,000. Venturi Wealth Management LLC acquired a new position in UFP Technologies in the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC lifted its holdings in UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after acquiring an additional 66 shares during the last quarter. Finally, KBC Group NV lifted its holdings in UFP Technologies by 37.9% in the fourth quarter. KBC Group NV now owns 375 shares of the industrial products company's stock valued at $92,000 after acquiring an additional 103 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James started coverage on UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating on the stock. Finally, StockNews.com cut UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

UFP Technologies Trading Up 4.0%

NASDAQ:UFPT traded up $9.63 during trading hours on Friday, reaching $253.30. 87,913 shares of the stock were exchanged, compared to its average volume of 84,557. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 36.13 and a beta of 1.10. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The business has a 50-day moving average of $211.73 and a two-hundred day moving average of $249.75.

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

Insider Activity

In related news, SVP Christopher P. Litterio sold 1,473 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $220.12, for a total value of $324,236.76. Following the transaction, the senior vice president now owns 12,585 shares of the company's stock, valued at $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the transaction, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.40% of the company's stock.

UFP Technologies Profile

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.