Bessemer Group Inc. Has $17.90 Million Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

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

Several other institutional investors also recently modified their holdings of UFPT. Wasatch Advisors LP grew its stake in UFP Technologies by 37.1% in the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock valued at $141,007,000 after buying an additional 156,142 shares during the last quarter. Vanguard Group Inc. grew its position in shares of UFP Technologies by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after purchasing an additional 17,356 shares in the last quarter. Congress Asset Management Co. grew its position in shares of UFP Technologies by 10.0% during the 1st quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock worth $62,408,000 after purchasing an additional 28,070 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of UFP Technologies by 98.4% during the 1st 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. Finally, Price T Rowe Associates Inc. MD grew its position in shares of UFP Technologies by 55.8% during the 4th 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. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction 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. This represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by insiders.

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT traded down $2.47 on Friday, reaching $244.67. 163,782 shares of the company's stock were exchanged, compared to its average volume of 106,827. The company has a fifty day moving average of $230.19 and a 200-day moving average of $235.77. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 29.95 and a beta of 1.12. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.47.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results 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 11.59% and a return on equity of 21.27%. The company had revenue of $148.15 million during the quarter, compared to the consensus estimate of $139.93 million.

Analysts Set New Price Targets

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