UFP Technologies, Inc. $UFPT Shares Acquired by American Century Companies Inc.

Key Points

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American Century Companies Inc. grew its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 1,858.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 287,588 shares of the industrial products company's stock after acquiring an additional 272,902 shares during the period. American Century Companies Inc. owned about 3.73% of UFP Technologies worth $58,010,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Liontrust Investment Partners LLP purchased a new position in shares of UFP Technologies in the 1st quarter valued at $518,000. Oak Ridge Investments LLC raised its stake in shares of UFP Technologies by 12.9% in the 1st quarter. Oak Ridge Investments LLC now owns 9,681 shares of the industrial products company's stock valued at $1,953,000 after acquiring an additional 1,105 shares during the period. Public Sector Pension Investment Board raised its stake in shares of UFP Technologies by 27.6% in the 1st quarter. Public Sector Pension Investment Board now owns 23,138 shares of the industrial products company's stock valued at $4,667,000 after acquiring an additional 4,998 shares during the period. Motley Fool Asset Management LLC raised its stake in shares of UFP Technologies by 47.5% in the 1st quarter. Motley Fool Asset Management LLC now owns 12,506 shares of the industrial products company's stock valued at $2,523,000 after acquiring an additional 4,026 shares during the period. Finally, Nuveen LLC purchased a new position in shares of UFP Technologies in the 1st quarter valued at $5,764,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital lifted their price target on shares of UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.00.

UFP Technologies Stock Up 2.8%

UFP Technologies stock traded up $6.18 during midday trading on Friday, hitting $225.74. 106,820 shares of the stock were exchanged, compared to its average volume of 120,934. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41. The firm has a market cap of $1.74 billion, a P/E ratio of 26.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. The company has a 50 day moving average price of $233.88 and a two-hundred day moving average price of $227.68.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.25. The company had revenue of $151.18 million during the quarter, compared to analyst estimates of $151.55 million. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The firm's revenue for the quarter was up 37.2% compared to the same quarter last year. During the same period last year, the business earned $1.86 EPS.

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.