Invesco Ltd. Has $35.94 Million Stock Position 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 stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,174 shares of the industrial products company's stock after acquiring an additional 3,313 shares during the quarter. Invesco Ltd. owned approximately 2.31% of UFP Technologies worth $35,939,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of UFP Technologies in the 4th quarter worth $42,000. Lazard Asset Management LLC acquired a new position in shares of UFP Technologies in the 4th quarter worth $84,000. Park Square Financial Group LLC acquired a new position in shares of UFP Technologies in the 4th quarter worth $107,000. Canada Pension Plan Investment Board grew its holdings in shares of UFP Technologies by 25.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after acquiring an additional 100 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of UFP Technologies by 263.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 922 shares of the industrial products company's stock worth $225,000 after acquiring an additional 668 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital lifted their target price on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, UFP Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.00.

UFP Technologies Stock Up 2.8%

Shares of UFP Technologies stock traded up $6.18 during midday trading on Friday, hitting $225.74. The company's stock had a trading volume of 106,820 shares, compared to its average volume of 117,941. The firm has a market capitalization of $1.74 billion, a P/E ratio of 26.16 and a beta of 1.14. The stock has a 50-day simple moving average of $233.88 and a 200-day simple moving average of $228.04. 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, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41.

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

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.