Congress Asset Management Co. Has $79.95 Million Stock Position in UFP Technologies, Inc. $UFPT

Key Points

• Congress Asset Management Co. increased its stake in UFP Technologies, Inc. by 5.8%, owning approximately 4.25% of the company, which is valued at $79.95 million.
• Recent earnings revealed that UFP Technologies reported an EPS of $2.50, surpassing estimates by $0.25, with revenues growing 37.2% year-over-year.
• Analysts have set a new price target for UFP Technologies at $289.00, with the stock currently rated as a "Moderate Buy".

Congress Asset Management Co. raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 327,433 shares of the industrial products company's stock after acquiring an additional 18,038 shares during the quarter. Congress Asset Management Co. owned approximately 4.25% of UFP Technologies worth $79,946,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UFPT. Cetera Investment Advisers acquired a new position in UFP Technologies in the 4th quarter valued at approximately $340,000. Two Sigma Investments LP acquired a new stake in shares of UFP Technologies during the fourth quarter worth $1,168,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of UFP Technologies by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,529 shares of the industrial products company's stock worth $2,819,000 after buying an additional 163 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of UFP Technologies by 28.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the industrial products company's stock worth $5,083,000 after buying an additional 4,572 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of UFP Technologies by 3.7% during the fourth quarter. California State Teachers Retirement System now owns 7,143 shares of the industrial products company's stock worth $1,747,000 after buying an additional 252 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Lake Street Capital increased their price objective 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $289.00.

UFP Technologies Stock Down 1.7%

Shares of NASDAQ UFPT opened at $190.04 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of 22.02 and a beta of 1.20. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $354.22. The company's fifty day simple moving average is $215.62 and its 200 day simple moving average is $221.55. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.25. The business had revenue of $151.18 million for 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%. UFP Technologies's revenue was up 37.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 earnings per share.

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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