Allspring Global Investments Holdings LLC Takes $2.97 Million Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Allspring Global Investments Holdings LLC purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,731 shares of the industrial products company's stock, valued at approximately $2,971,000. Allspring Global Investments Holdings LLC owned 0.19% of UFP Technologies at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its position in shares of UFP Technologies by 37.1% in the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after buying an additional 156,142 shares during the period. Boston Trust Walden Corp lifted its position in UFP Technologies by 98.4% during the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after acquiring an additional 106,197 shares in the last quarter. Raymond James Financial Inc. purchased a new position in UFP Technologies in the 4th quarter worth approximately $16,808,000. Price T Rowe Associates Inc. MD grew its position in UFP Technologies by 55.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock valued at $43,625,000 after acquiring an additional 63,899 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of UFP Technologies by 508.8% during the fourth quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company's stock valued at $16,907,000 after purchasing an additional 57,787 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the transaction, the senior vice president directly owned 12,585 shares in the company, valued at approximately $2,770,210.20. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.40% of the company's stock.

UFP Technologies Price Performance

Shares of UFPT stock traded down $8.54 during midday trading on Monday, reaching $241.07. 111,641 shares of the company were exchanged, compared to its average volume of 107,762. The company's 50 day moving average price is $235.22 and its two-hundred day moving average price is $234.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.45 and a current ratio of 2.58. The company has a market cap of $1.86 billion, a P/E ratio of 29.51 and a beta of 1.11. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.42. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%. The firm had revenue of $148.15 million for the quarter, compared to analyst estimates of $139.93 million.

Analysts Set New Price Targets

A number of research firms recently weighed in on UFPT. Lake Street Capital set a $252.00 price target on shares of UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial assumed coverage on UFP Technologies in a research report on Friday, March 28th. They issued a "market perform" rating for the company.

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.