Benjamin Edwards Inc. Invests $632,000 in UFP Technologies, Inc. (NASDAQ:UFPT)

Key Points

• Benjamin Edwards Inc. made a new investment in UFP Technologies, acquiring 3,133 shares valued at approximately $632,000 during the first quarter.
• UFP Technologies reported strong quarterly earnings, with an EPS of $2.50, exceeding analysts' estimates of $2.25 and reflecting a 37.2% year-over-year revenue growth.
• Analysts at Lake Street Capital raised their target price for UFP Technologies from $252.00 to $289.00 following positive earnings results.

Benjamin Edwards Inc. bought a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,133 shares of the industrial products company's stock, valued at approximately $632,000.

A number of other large investors also recently modified their holdings of UFPT. Boston Trust Walden Corp lifted its position in shares of UFP Technologies by 98.4% during the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after purchasing an additional 106,197 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of UFP Technologies during the fourth quarter worth approximately $16,808,000. Price T Rowe Associates Inc. MD lifted its position in shares of UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after purchasing an additional 63,899 shares in the last quarter. Royal Bank of Canada lifted its position 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 worth $16,907,000 after purchasing an additional 57,787 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of UFP Technologies by 261.3% during the first quarter. Envestnet Asset Management Inc. now owns 75,194 shares of the industrial products company's stock worth $15,167,000 after purchasing an additional 54,382 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Down 1.2%

Shares of NASDAQ:UFPT opened at $224.00 on Friday. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41. The company has a 50 day moving average of $235.85 and a 200-day moving average of $230.67. 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 stock has a market cap of $1.73 billion, a price-to-earnings ratio of 25.96 and a beta of 1.14.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The company had revenue of $151.18 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the company earned $1.86 EPS. UFP Technologies's revenue was up 37.2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upped their target price on shares of UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th.

UFP Technologies Company 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.

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