Invesco Ltd. Raises Stock Holdings in UFP Technologies, Inc. $UFPT

Key Points

• Invesco Ltd. increased its stake in UFP Technologies, Inc. by 1.9%, owning 178,174 shares valued at approximately $35.9 million as of the latest SEC filing.
• Other hedge funds also significantly boosted their holdings, with Boston Trust Walden Corp raising its stake by 98.4% and Royal Bank of Canada increasing its position by 508.8% in the last quarter.
• UFP Technologies reported a Q2 EPS of $2.50, surpassing analyst expectations, and showed a 37.2% increase in quarterly revenue year-over-year.

Invesco Ltd. increased its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,174 shares of the industrial products company's stock after buying an additional 3,313 shares during the quarter. Invesco Ltd. owned 2.31% of UFP Technologies worth $35,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in UFPT. Boston Trust Walden Corp increased its stake in shares of UFP Technologies by 98.4% in the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after buying an additional 106,197 shares during the period. Raymond James Financial Inc. purchased a new position in UFP Technologies during the 4th quarter valued at $16,808,000. Price T Rowe Associates Inc. MD increased its position in 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 valued at $43,625,000 after purchasing an additional 63,899 shares during the period. Royal Bank of Canada increased 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 valued at $16,907,000 after purchasing an additional 57,787 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in UFP Technologies by 261.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 75,194 shares of the industrial products company's stock valued at $15,167,000 after purchasing an additional 54,382 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Lake Street Capital boosted their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th.

UFP Technologies Stock Down 0.3%

Shares of UFP Technologies stock opened at $218.95 on Tuesday. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The company's fifty day simple moving average is $235.10 and its two-hundred day simple moving average is $229.31. The company has a market cap of $1.69 billion, a P/E ratio of 25.37 and a beta of 1.14. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Monday, August 4th. The industrial products company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The firm had revenue of $151.18 million for the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the business posted $1.86 EPS. The company's quarterly revenue was up 37.2% on a year-over-year basis.

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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