UFP Technologies, Inc. (NASDAQ:UFPT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,274 shares of the industrial products company's stock after purchasing an additional 1,166 shares during the period. Principal Financial Group Inc. owned 0.52% of UFP Technologies worth $8,124,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of UFP Technologies in the first quarter valued at approximately $2,971,000. Farther Finance Advisors LLC increased its position in shares of UFP Technologies by 422.5% during the first quarter. Farther Finance Advisors LLC now owns 1,186 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 959 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of UFP Technologies by 25.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company's stock valued at $208,000 after acquiring an additional 212 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of UFP Technologies during the first quarter valued at approximately $564,000. Finally, GAMMA Investing LLC increased its position in shares of UFP Technologies by 28,138.9% during the first quarter. GAMMA Investing LLC now owns 26,827 shares of the industrial products company's stock valued at $5,411,000 after acquiring an additional 26,732 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

Analyst Upgrades and Downgrades

UFPT has been the subject of a number of analyst reports. 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. Raymond James Financial initiated coverage on UFP Technologies in a report on Friday, March 28th. They issued a "market perform" rating for the company.

UFP Technologies Stock Down 1.7%

UFPT traded down $4.05 during trading on Friday, hitting $227.95. 65,304 shares of the company's stock traded hands, compared to its average volume of 108,464. The company's 50 day simple moving average is $240.05 and its two-hundred day simple moving average is $234.37. 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 12-month low of $178.26 and a 12-month high of $366.41. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 27.90 and a beta of 1.11.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced 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 company 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%.

Insider Buying and Selling

In related news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the sale, the senior vice president directly owned 12,585 shares in the company, valued at $2,770,210.20. This represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is owned by insiders.

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.