Park Avenue Securities LLC Takes Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Park Avenue Securities LLC purchased a new position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,794 shares of the industrial products company's stock, valued at approximately $564,000.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in UFP Technologies by 28,138.9% in the first quarter. GAMMA Investing LLC now owns 26,827 shares of the industrial products company's stock worth $5,411,000 after acquiring an additional 26,732 shares during the last quarter. Principal Financial Group Inc. lifted its stake in UFP Technologies by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock worth $9,562,000 after acquiring an additional 1,444 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of UFP Technologies during the 4th quarter worth approximately $340,000. Northern Trust Corp lifted its position in shares of UFP Technologies by 8.1% during the 4th quarter. Northern Trust Corp now owns 92,064 shares of the industrial products company's stock worth $22,511,000 after buying an additional 6,873 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of UFP Technologies during the 4th quarter worth approximately $16,808,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UFPT. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Raymond James Financial began coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating for the company.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction 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 transaction, the senior vice president now directly owns 12,585 shares of the company's stock, valued at $2,770,210.20. The trade was a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company's stock.

UFP Technologies Stock Up 1.9%

Shares of NASDAQ:UFPT traded up $4.44 during trading on Wednesday, hitting $240.25. 120,792 shares of the company were exchanged, compared to its average volume of 105,766. The stock has a market capitalization of $1.85 billion, a P/E ratio of 29.41 and a beta of 1.12. 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, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The firm's 50 day moving average price is $226.21 and its 200-day moving average price is $237.99.

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

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.