Massachusetts Financial Services Co. MA Has $27.05 Million Stock Position in UFP Technologies, Inc. $UFPT

Key Points

• Massachusetts Financial Services Co. cut its stake in UFP Technologies by 28.3%, selling 48,138 shares to hold 121,844 shares worth $27.05 million (about 1.58% of the company) after the fourth quarter.
• Analysts have a consensus rating of Hold with an average price target of $289 while UFPT trades near $196.22; the company recently beat EPS estimates ($2.44 vs. $2.26) and has high institutional ownership (~87.3%).

Massachusetts Financial Services Co. MA lowered its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,844 shares of the industrial products company's stock after selling 48,138 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.58% of UFP Technologies worth $27,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in shares of UFP Technologies in the second quarter valued at about $49,000. Caitong International Asset Management Co. Ltd acquired a new position in UFP Technologies during the third quarter worth approximately $51,000. State of Wyoming increased its position in UFP Technologies by 22.7% during the third quarter. State of Wyoming now owns 341 shares of the industrial products company's stock worth $68,000 after buying an additional 63 shares during the last quarter. GAMMA Investing LLC increased its position in UFP Technologies by 171.4% during the fourth quarter. GAMMA Investing LLC now owns 361 shares of the industrial products company's stock worth $80,000 after buying an additional 228 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in UFP Technologies during the third quarter worth approximately $108,000. Institutional investors and hedge funds own 87.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UFPT shares. Wall Street Zen raised UFP Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Zacks Research raised UFP Technologies from a "strong sell" rating to a "hold" rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, UFP Technologies currently has a consensus rating of "Hold" and an average price target of $289.00.

UFP Technologies Trading Up 0.1%

Shares of NASDAQ:UFPT opened at $196.22 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 22.35 and a beta of 1.17. UFP Technologies, Inc. has a 1 year low of $182.87 and a 1 year high of $274.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.68 and a quick ratio of 1.52. The business's 50 day simple moving average is $214.14 and its 200 day simple moving average is $220.86.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The industrial products company reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.18. The business had revenue of $148.92 million for the quarter, compared to the consensus estimate of $149.07 million. UFP Technologies had a return on equity of 19.36% and a net margin of 11.33%.The firm's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.10 earnings per share.

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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