Mesirow Financial Investment Management Inc. Sells 1,585 Shares of 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 stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 50.0% in the first quarter, according to the company in its most recent filing 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 reporting period.

A number of other hedge funds have also modified their holdings of UFPT. Arete Wealth Advisors LLC grew its holdings in UFP Technologies by 5.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 958 shares of the industrial products company's stock worth $233,000 after purchasing an additional 49 shares during the period. Kestra Private Wealth Services LLC grew its holdings in UFP Technologies by 4.0% during the first quarter. Kestra Private Wealth Services LLC now owns 2,108 shares of the industrial products company's stock worth $425,000 after purchasing an additional 82 shares during the period. Canada Pension Plan Investment Board grew its holdings in UFP Technologies by 25.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after purchasing an additional 100 shares during the period. Portside Wealth Group LLC grew its holdings in UFP Technologies by 5.4% during the first quarter. Portside Wealth Group LLC now owns 1,971 shares of the industrial products company's stock worth $398,000 after purchasing an additional 101 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in UFP Technologies by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,529 shares of the industrial products company's stock worth $2,819,000 after purchasing an additional 163 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UFP Technologies

In other 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 directly owned 12,585 shares in the company, valued at approximately $2,770,210.20. The trade was a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

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

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT traded up $0.18 during trading on Friday, reaching $226.57. 110,703 shares of the stock were exchanged, compared to its average volume of 82,784. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The firm has a market cap of $1.75 billion, a PE ratio of 27.73 and a beta of 1.14. The stock has a 50-day moving average price of $238.77 and a 200-day moving average price of $233.49. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.47.

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

UFP Technologies Company 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.