Annex Advisory Services LLC Acquires 43,480 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Annex Advisory Services LLC boosted its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 70.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,288 shares of the industrial products company's stock after buying an additional 43,480 shares during the period. Annex Advisory Services LLC owned 1.37% of UFP Technologies worth $21,238,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC purchased a new position in shares of UFP Technologies during the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. purchased a new position in shares of UFP Technologies during the fourth quarter valued at approximately $42,000. Venturi Wealth Management LLC purchased a new position in shares of UFP Technologies during the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC lifted its holdings in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 66 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of UFP Technologies during the fourth quarter valued at approximately $84,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Stock Up 1.6%

NASDAQ UFPT traded up $3.90 during mid-day trading on Thursday, reaching $243.98. The stock had a trading volume of 518,506 shares, compared to its average volume of 97,562. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $366.41. The stock has a market cap of $1.88 billion, a PE ratio of 34.80 and a beta of 1.10. The company has a fifty day moving average price of $219.61 and a 200 day moving average price of $242.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43.

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 for the quarter, topping analysts' consensus estimates of $2.05 by $0.42. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The company had revenue of $148.15 million during the quarter, compared to analyst estimates of $139.93 million.

Insider Buying and Selling

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 value of $324,236.76. Following the completion of the sale, the senior vice president now owns 12,585 shares of the company's stock, 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. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

UFPT has been the subject of several recent research reports. Raymond James initiated coverage on shares of UFP Technologies in a report on Friday, March 28th. They set a "market perform" rating for the company. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the stock a "buy" rating in a report on Wednesday, May 7th.

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.