UFP Technologies, Inc. (NASDAQ:UFPT) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC raised its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,725 shares of the industrial products company's stock after purchasing an additional 1,496 shares during the quarter. UFP Technologies accounts for 1.0% of Legato Capital Management LLC's portfolio, making the stock its 4th largest position. Legato Capital Management LLC owned approximately 0.49% of UFP Technologies worth $7,610,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of UFP Technologies in the 1st quarter valued at about $815,000. Guidance Capital Inc. lifted its holdings in shares of UFP Technologies by 20.9% in the 1st quarter. Guidance Capital Inc. now owns 2,040 shares of the industrial products company's stock valued at $413,000 after buying an additional 353 shares during the period. GW&K Investment Management LLC lifted its holdings in shares of UFP Technologies by 3.0% in the 1st quarter. GW&K Investment Management LLC now owns 60,956 shares of the industrial products company's stock valued at $12,295,000 after buying an additional 1,789 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of UFP Technologies by 4.0% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,108 shares of the industrial products company's stock valued at $425,000 after buying an additional 82 shares during the period. Finally, Diversify Advisory Services LLC lifted its holdings in shares of UFP Technologies by 17.3% in the 1st quarter. Diversify Advisory Services LLC now owns 1,111 shares of the industrial products company's stock valued at $235,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 87.28% of the company's stock.

Analysts Set New Price Targets

UFPT has been the subject of several analyst reports. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial initiated coverage on UFP Technologies in a report on Friday, March 28th. They issued a "market perform" rating for the company.

Insiders Place Their Bets

In related news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $220.12, for a total value of $324,236.76. Following the completion of the transaction, the senior vice president owned 12,585 shares of the company's stock, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

UFP Technologies Price Performance

NASDAQ UFPT traded up $5.83 during trading hours on Friday, reaching $241.92. The company's stock had a trading volume of 46,964 shares, compared to its average volume of 93,221. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 29.61 and a beta of 1.11. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45. The company's 50-day moving average is $239.00 and its two-hundred day moving average is $234.11.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.42. The company had revenue of $148.15 million during the quarter, compared to analysts' expectations of $139.93 million. UFP Technologies had a return on equity of 21.27% and a net margin of 11.59%.

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.