Bessemer Group Inc. Reduces Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Bessemer Group Inc. lessened its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 31.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 88,747 shares of the industrial products company's stock after selling 40,462 shares during the period. Bessemer Group Inc. owned approximately 1.16% of UFP Technologies worth $17,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in UFPT. Principal Financial Group Inc. lifted its holdings in shares of UFP Technologies by 3.8% in the 4th quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock valued at $9,562,000 after buying an additional 1,444 shares during the period. Truist Financial Corp purchased a new position in UFP Technologies in the fourth quarter worth $401,000. Handelsbanken Fonder AB acquired a new stake in UFP Technologies in the fourth quarter valued at $538,000. Los Angeles Capital Management LLC boosted its position in shares of UFP Technologies by 1.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company's stock worth $1,435,000 after purchasing an additional 70 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of UFP Technologies by 1.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company's stock worth $1,041,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

UFP Technologies Price Performance

UFPT stock traded down $0.51 during midday trading on Monday, hitting $244.16. 108,692 shares of the stock were exchanged, compared to its average volume of 107,120. The stock's 50-day moving average price is $231.53 and its 200-day moving average price is $234.70. 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 stock has a market cap of $1.88 billion, a price-to-earnings ratio of 29.88 and a beta of 1.12. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released 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. The business had revenue of $148.15 million during the quarter, compared to the consensus estimate of $139.93 million. UFP Technologies had a return on equity of 21.27% and a net margin of 11.59%.

Analyst Upgrades and Downgrades

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

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the 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 sale, the senior vice president directly owned 12,585 shares in the company, valued at $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company's stock.

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.