Mesirow Financial Investment Management Inc. Decreases Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Key Points

• Mesirow Financial Investment Management Inc. reduced its stake in UFP Technologies, Inc. by 50%, selling 1,585 shares and holding a total of 1,585 shares worth $330,000 at the end of the last quarter.
• In contrast, Vestcor Inc. increased its holdings in UFP Technologies by 309.6%, acquiring an additional 3,421 shares valued at $913,000.
• Lake Street Capital set a price target of $252.00 on UFP Technologies, maintaining a "buy" rating following the company's positive earnings report, where it exceeded EPS estimates by $0.42.

Mesirow Financial Investment Management Inc. cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,585 shares of the industrial products company's stock after selling 1,585 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in UFP Technologies were worth $330,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in shares of UFP Technologies in the 4th quarter valued at $42,000. Lazard Asset Management LLC purchased a new stake in UFP Technologies in the fourth quarter valued at $84,000. Park Square Financial Group LLC purchased a new stake in UFP Technologies in the fourth quarter valued at $107,000. Canada Pension Plan Investment Board boosted its holdings in UFP Technologies by 25.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock valued at $122,000 after purchasing an additional 100 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in UFP Technologies by 263.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 922 shares of the industrial products company's stock valued at $225,000 after purchasing an additional 668 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Price Performance

UFP Technologies stock traded up $26.35 during midday trading on Tuesday, reaching $252.62. The company had a trading volume of 127,602 shares, compared to its average volume of 136,050. The company has a market capitalization of $1.95 billion, a P/E ratio of 31.01 and a beta of 1.14. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The firm's fifty day simple moving average is $238.61 and its 200-day simple moving average is $233.02. 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 Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.25. The business had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%. The business's revenue was up 37.2% on a year-over-year basis. During the same period last year, the company posted $1.86 EPS.

Insiders Place Their Bets

In related news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction that occurred 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 in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital set a $252.00 price target on shares of UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th.

UFP Technologies 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.