Lord Abbett & CO. LLC Sells 26,154 Shares of UFP Technologies, Inc. $UFPT

Key Points

• Lord Abbett & CO. LLC has reduced its stake in UFP Technologies by 37.9%, selling 26,154 shares, and now holds 42,889 shares worth approximately $8.65 million.
• Boston Trust Walden Corp increased its stake in UFP Technologies by 98.4%, acquiring over 106,000 shares, which reflects a significant shift among institutional investors holding 87.28% of the stock.
• UFP Technologies reported earnings of $2.50 per share for the most recent quarter, surpassing expectations, with revenue growing 37.2% year-over-year to $151.18 million.

Lord Abbett & CO. LLC reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,889 shares of the industrial products company's stock after selling 26,154 shares during the period. Lord Abbett & CO. LLC owned 0.56% of UFP Technologies worth $8,651,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of UFP Technologies in the 4th quarter valued at about $42,000. Lazard Asset Management LLC acquired a new stake in shares of UFP Technologies in the 4th quarter valued at about $84,000. Park Square Financial Group LLC acquired a new stake in shares of UFP Technologies in the 4th quarter valued at about $107,000. Canada Pension Plan Investment Board grew its stake 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 valued at $122,000 after buying an additional 100 shares during the period. Finally, Dakota Wealth Management purchased a new position in shares of UFP Technologies in the 1st quarter worth approximately $204,000. 87.28% of the stock is owned by institutional investors.

UFP Technologies Price Performance

UFPT traded down $1.31 during trading on Thursday, reaching $218.08. The stock had a trading volume of 69,717 shares, compared to its average volume of 135,801. The stock has a market cap of $1.68 billion, a PE ratio of 25.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41. The business has a 50-day moving average of $234.38 and a 200-day moving average of $229.16.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released 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 return on equity of 21.54% and a net margin of 11.40%.The business had revenue of $151.18 million for the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The firm's revenue was up 37.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their price target on shares of 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. According to data from MarketBeat.com, UFP Technologies presently has an average rating of "Moderate Buy" and an average price target of $289.00.

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.