Congress Asset Management Co. Raises Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Congress Asset Management Co. boosted its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,395 shares of the industrial products company's stock after purchasing an additional 28,070 shares during the period. Congress Asset Management Co. owned approximately 4.03% of UFP Technologies worth $62,408,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UFPT. Wasatch Advisors LP lifted its holdings in UFP Technologies by 37.1% in the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after acquiring an additional 156,142 shares during the last quarter. Raymond James Financial Inc. acquired a new position in UFP Technologies in the fourth quarter worth approximately $16,808,000. Price T Rowe Associates Inc. MD grew its position in UFP Technologies by 55.8% in 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 buying an additional 63,899 shares during the last quarter. Royal Bank of Canada grew its position in UFP Technologies by 508.8% during the 4th 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, Franklin Resources Inc. boosted its stake in shares of UFP Technologies by 48.1% during the 4th quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock valued at $33,338,000 after buying an additional 44,292 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $324,236.76. Following the sale, the senior vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company's stock.

UFP Technologies Stock Down 2.7%

Shares of UFPT stock opened at $237.46 on Friday. The firm has a fifty day moving average of $220.28 and a 200-day moving average of $242.22. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 33.87 and a beta of 1.12.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.42. The firm had revenue of $148.15 million during the quarter, compared to analysts' expectations of $139.93 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UFPT. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James assumed coverage on shares of UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock.

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.

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