Massachusetts Financial Services Co. MA Raises Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Massachusetts Financial Services Co. MA grew its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 28.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 132,571 shares of the industrial products company's stock after buying an additional 28,997 shares during the period. Massachusetts Financial Services Co. MA owned 1.73% of UFP Technologies worth $26,741,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC acquired a new stake in shares of UFP Technologies in the 4th quarter valued at $25,000. 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 position in UFP Technologies during the 4th quarter valued at about $84,000. Park Square Financial Group LLC purchased a new position in shares of UFP Technologies in the 4th quarter worth approximately $107,000. Finally, Canada Pension Plan Investment Board boosted 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 worth $122,000 after buying an additional 100 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction on 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 owned 12,585 shares of the company's stock, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

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

UFP Technologies Trading Down 1.7%

Shares of UFPT stock traded down $4.05 during mid-day trading on Friday, reaching $227.95. The company's stock had a trading volume of 65,304 shares, compared to its average volume of 108,132. The company's 50 day simple moving average is $240.05 and its 200-day simple moving average is $234.30. The firm has a market capitalization of $1.76 billion, a PE ratio of 27.90 and a beta of 1.11. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.47.

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

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.