Diversify Wealth Management LLC Has $1.70 Million Stake in UFP Technologies, Inc. $UFPT

Key Points

• Diversify Wealth Management more than doubled its stake in UFP Technologies in Q1, buying an additional 4,791 shares and bringing its position to 9,171 shares worth about $1.7 million.
• Institutional ownership remains dominant, with hedge funds and other large investors holding about 87.28% of the company’s stock. Several firms, including Wasatch Advisors and Vanguard, also increased their positions.
• UFP Technologies reported better-than-expected quarterly earnings of $2.48 per share versus $2.18 expected, while revenue grew 4.1% year over year. Despite that, the stock was down about 3% and analysts currently rate it a Hold with an average target price of $289.

Diversify Wealth Management LLC increased its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 109.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,171 shares of the industrial products company's stock after buying an additional 4,791 shares during the period. Diversify Wealth Management LLC owned 0.12% of UFP Technologies worth $1,701,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wasatch Advisors LP boosted its stake in UFP Technologies by 5.6% in the first quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company's stock valued at $150,488,000 after acquiring an additional 41,286 shares during the last quarter. Vanguard Group Inc. raised its position in shares of UFP Technologies by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company's stock valued at $118,470,000 after acquiring an additional 5,957 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of UFP Technologies by 32.4% in the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company's stock valued at $97,942,000 after purchasing an additional 107,908 shares during the period. Boston Trust Walden Corp lifted its stake in shares of UFP Technologies by 36.3% in the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company's stock valued at $61,385,000 after purchasing an additional 84,396 shares during the period. Finally, State Street Corp lifted its stake in shares of UFP Technologies by 0.3% in the 4th quarter. State Street Corp now owns 289,775 shares of the industrial products company's stock valued at $64,339,000 after purchasing an additional 961 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, Director Cynthia L. Feldmann sold 1,200 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director owned 5,476 shares in the company, valued at $1,310,352.04. This represents a 17.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel C. Croteau sold 2,864 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director directly owned 855 shares in the company, valued at $189,562.05. The trade was a 77.01% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.59% of the company's stock.

Analysts Set New Price Targets

UFPT has been the topic of several recent research reports. Wall Street Zen upgraded UFP Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of UFP Technologies in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $289.00.

UFP Technologies Stock Down 3.0%

UFP Technologies stock opened at $230.11 on Wednesday. The company's 50 day simple moving average is $235.16 and its 200 day simple moving average is $227.57. UFP Technologies, Inc. has a fifty-two week low of $173.86 and a fifty-two week high of $279.49. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 26.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm had revenue of $154.20 million during the quarter, compared to analysts' expectations of $154.78 million. During the same quarter in the previous year, the company earned $2.47 earnings per share. The business's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current year.

UFP Technologies Profile

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

Want to see what other hedge funds are holding UFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Technologies, Inc. (NASDAQ:UFPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.