UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in UFP Technologies by 44.1%, selling 1,652 shares to hold 2,093 shares valued at $422,000.
• UFP Technologies' recent quarterly earnings report revealed an earnings per share (EPS) of $2.47, exceeding analyst estimates of $2.05, with revenues of $148.15 million.
• Analysts from Lake Street Capital have set a $252.00 price target on UFP Technologies, rating the stock as a "buy."

Norden Group LLC lowered its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 44.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,093 shares of the industrial products company's stock after selling 1,652 shares during the quarter. Norden Group LLC's holdings in UFP Technologies were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in shares of UFP Technologies during the fourth quarter worth $42,000. Lazard Asset Management LLC acquired a new position in shares of UFP Technologies during the 4th quarter worth about $84,000. Park Square Financial Group LLC purchased a new position in shares of UFP Technologies in the 4th quarter valued at about $107,000. Canada Pension Plan Investment Board raised its position in shares of 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 in the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of UFP Technologies during the 1st quarter worth about $204,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Christopher P. Litterio sold 1,473 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the transaction, the senior vice president directly owned 12,585 shares in the company, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company's stock.

UFP Technologies Stock Up 0.1%

NASDAQ:UFPT traded up $0.18 during midday trading on Friday, hitting $226.57. 110,703 shares of the company were exchanged, compared to its average volume of 82,784. 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, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $366.41. The company has a market capitalization of $1.75 billion, a PE ratio of 27.73 and a beta of 1.14. The company has a fifty day simple moving average of $238.77 and a 200 day simple moving average of $233.49.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, topping 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%.

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 research note on Wednesday, May 7th.

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.