7,567 Shares in UFP Technologies, Inc. $UFPT Bought by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management initiated a new position in UFP Technologies, buying 7,567 shares worth about $1.47 million in the first quarter. The stake represented roughly 0.10% of the company.
• Several other institutional investors also increased their holdings, and overall 87.28% of UFP Technologies stock is owned by hedge funds and other institutions. That suggests the stock remains heavily held by professional investors.
• UFP Technologies reported stronger-than-expected quarterly earnings, posting EPS of $2.48 versus estimates of $2.18, while revenue grew 4.1% year over year. Analysts currently rate the stock a Hold on average, with a consensus price target of $289.

Maridea Wealth Management LLC purchased a new stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,567 shares of the industrial products company's stock, valued at approximately $1,465,000. Maridea Wealth Management LLC owned about 0.10% of UFP Technologies at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of UFPT. Wasatch Advisors LP raised its holdings in shares of UFP Technologies by 5.6% in the first quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company's stock valued at $150,488,000 after purchasing an additional 41,286 shares during the last quarter. Vanguard Group Inc. grew its position in UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company's stock worth $118,470,000 after purchasing an additional 5,957 shares in the last quarter. Congress Asset Management Co. grew its position in 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 in the last quarter. State Street Corp increased its stake in UFP Technologies by 0.3% in the 4th quarter. State Street Corp now owns 289,775 shares of the industrial products company's stock valued at $64,339,000 after buying an additional 961 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of UFP Technologies by 892.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company's stock worth $55,091,000 after buying an additional 223,121 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Cynthia L. Feldmann sold 1,200 shares of the business's 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 sale, the director owned 5,476 shares of the company's stock, valued at $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel C. Croteau sold 2,864 shares of the firm'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 transaction of $634,977.44. Following the completion of the transaction, the director directly owned 855 shares of the company's stock, valued at approximately $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UFPT. Wall Street Zen raised UFP Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Technologies in a research report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $289.00.

UFP Technologies Price Performance

UFP Technologies stock opened at $259.80 on Friday. The business's 50 day simple moving average is $221.08 and its 200 day simple moving average is $224.59. UFP Technologies, Inc. has a 12 month low of $173.86 and a 12 month high of $274.93. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 29.49 and a beta of 1.11. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The business's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. Sell-side analysts forecast that UFP Technologies, Inc. will post 10.23 EPS for the current year.

UFP Technologies Company 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.

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