Maridea Wealth Management LLC Makes New Investment in UFP Technologies, Inc. $UFPT

Key Points

• Maridea Wealth Management initiated a UFP Technologies position by purchasing 7,901 shares worth approximately $2.1 million. Institutional investors collectively own 87.28% of the company.
• UFP Technologies exceeded quarterly expectations, reporting $2.92 in EPS versus the $2.31 consensus and revenue of $173.96 million versus estimates of $159.38 million.
• The stock opened at $321.76, near its 52-week high, while insiders sold $5.28 million of shares during the last quarter. Analysts maintain a consensus “Hold” rating, despite one recent upgrade to “Buy.”

Maridea Wealth Management LLC bought a new position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,901 shares of the industrial products company's stock, valued at approximately $2,095,000. Maridea Wealth Management LLC owned 0.10% of UFP Technologies at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of UFP Technologies in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its stake in UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company's stock worth $41,000 after purchasing an additional 165 shares during the period. Versant Capital Management Inc grew its position in UFP Technologies by 1,291.7% during the 2nd quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company's stock worth $44,000 after purchasing an additional 155 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in UFP Technologies during the 2nd quarter worth approximately $49,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in UFP Technologies during the 3rd quarter valued at $51,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

NASDAQ UFPT opened at $321.76 on Friday. The company has a 50 day simple moving average of $260.43 and a 200-day simple moving average of $232.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.00 and a quick ratio of 1.72. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 34.67 and a beta of 1.08. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $338.71.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.61. The firm had revenue of $173.96 million for the quarter, compared to the consensus estimate of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. Equities research analysts predict that UFP Technologies, Inc. will post 10.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other UFP Technologies news, Chairman R Jeffrey Bailly sold 5,013 shares of UFP Technologies stock in a transaction on Friday, August 7th. The shares were sold at an average price of $317.87, for a total transaction of $1,593,482.31. Following the completion of the sale, the chairman owned 13,011 shares of the company's stock, valued at $4,135,806.57. This trade represents a 27.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Cynthia L. Feldmann sold 1,200 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the transaction, the director owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 16,895 shares of company stock valued at $5,284,236. Insiders own 4.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on UFPT shares. Weiss Ratings upgraded UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded UFP Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, UFP Technologies currently has a consensus rating of "Hold".

About UFP Technologies

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

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