Allspring Global Investments Holdings LLC Raises Stock Position in UFP Technologies, Inc. $UFPT

Key Points

• Allspring Global Investments Holdings LLC increased its stake in UFP Technologies, Inc. by 23.6% during the second quarter, now owning approximately 0.24% of the company valued at $4.4 million.
• UFP Technologies reported $1.37 earnings per share and $96.97 million in revenue for the most recent quarter, with a net margin of 11.40%.
• A number of brokerages have rated UFP Technologies with a consensus rating of "Hold", while Lake Street Capital set a revised target price of $289.00.

Allspring Global Investments Holdings LLC lifted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,206 shares of the industrial products company's stock after acquiring an additional 3,475 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of UFP Technologies worth $4,445,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its position in shares of UFP Technologies by 37.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the industrial products company's stock worth $45,000 after acquiring an additional 50 shares during the period. State of Wyoming increased its position in shares of UFP Technologies by 34.7% during the first quarter. State of Wyoming now owns 365 shares of the industrial products company's stock worth $74,000 after acquiring an additional 94 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of UFP Technologies during the first quarter worth approximately $172,000. CreativeOne Wealth LLC purchased a new position in shares of UFP Technologies during the first quarter worth approximately $203,000. Finally, Dakota Wealth Management purchased a new position in shares of UFP Technologies during the first quarter worth approximately $204,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

Shares of UFPT opened at $197.26 on Tuesday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 22.86 and a beta of 1.19. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $354.22. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $204.77 and a two-hundred day moving average of $220.60.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Thursday, November 9th. The industrial products company reported $1.37 earnings per share for the quarter. The company had revenue of $96.97 million during the quarter. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UFPT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Technologies in a research report on Wednesday, October 8th. Lake Street Capital increased their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $289.00.

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.

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