Kings Path Partners LLC Sells 2,545 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Kings Path Partners LLC decreased its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 56.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,940 shares of the industrial products company's stock after selling 2,545 shares during the period. Kings Path Partners LLC's holdings in UFP Technologies were worth $391,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wasatch Advisors LP boosted its stake in shares of 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 period. Vanguard Group Inc. boosted its stake in UFP Technologies by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after purchasing an additional 17,356 shares during the period. Congress Asset Management Co. boosted its stake in UFP Technologies by 14.2% in the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company's stock worth $68,787,000 after purchasing an additional 35,022 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of UFP Technologies by 55.8% during 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 acquiring an additional 63,899 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of UFP Technologies by 48.1% during the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock worth $33,338,000 after acquiring an additional 44,292 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

UFP Technologies Price Performance

UFP Technologies stock traded up $1.11 during midday trading on Friday, reaching $234.35. 759,079 shares of the stock traded hands, compared to its average volume of 90,332. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.81 billion, a P/E ratio of 33.43 and a beta of 1.10. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The stock's fifty day moving average is $216.66 and its 200-day moving average is $243.77.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on UFPT shares. Raymond James started coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating for the company. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the completion of the sale, the senior vice president now owns 12,585 shares in the company, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company's stock.

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.