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

Massachusetts Financial Services Co. MA grew its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 28.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

A number of other hedge funds also recently made changes to their positions in UFPT. AlphaQuest LLC bought a new position in shares of UFP Technologies during the fourth quarter worth approximately $25,000. Johnson Financial Group Inc. bought a new position in shares of UFP Technologies during the fourth quarter worth approximately $42,000. Lazard Asset Management LLC bought a new position in UFP Technologies during the 4th quarter worth $84,000. Park Square Financial Group LLC bought a new position in UFP Technologies during the 4th quarter worth $107,000. Finally, Canada Pension Plan Investment Board increased its stake in UFP Technologies by 25.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after acquiring an additional 100 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT traded up $4.28 during trading on Tuesday, hitting $231.11. 83,465 shares of the company were exchanged, compared to its average volume of 107,888. The company has a market cap of $1.78 billion, a PE ratio of 28.29 and a beta of 1.11. The stock has a 50 day moving average of $239.70 and a 200 day moving average of $234.10. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week 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.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.42. The business had revenue of $148.15 million for 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%.

Insider Activity

In related news, SVP Christopher P. Litterio sold 1,473 shares of the firm'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 sale, the senior vice president directly owned 12,585 shares of the company's stock, valued at $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on UFPT shares. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial initiated coverage on UFP Technologies in a report on Friday, March 28th. They set a "market perform" rating on the stock.

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.