Rockefeller Capital Management L.P. Lowers Position in UFP Technologies, Inc. $UFPT

Key Points

• Rockefeller Capital Management cut its stake in UFP Technologies by 30.7% in the fourth quarter, selling 26,438 shares and leaving it with 59,690 shares worth about $13.25 million.
• Other institutional investors were mixed: several funds, including Allspring Global Investments and Congress Asset Management, increased their positions, and institutional ownership remains high at 87.28%.
• UFP Technologies reported strong quarterly earnings, with EPS of $2.48 beating estimates, while revenue rose 4.1% year over year; analysts currently rate the stock a Hold with an average target price of $289.00.

Rockefeller Capital Management L.P. lowered its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,690 shares of the industrial products company's stock after selling 26,438 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.77% of UFP Technologies worth $13,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its position in shares of UFP Technologies by 60.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company's stock worth $37,115,000 after buying an additional 62,472 shares during the period. UBS Group AG grew its position in UFP Technologies by 22.4% during the fourth quarter. UBS Group AG now owns 189,403 shares of the industrial products company's stock valued at $42,053,000 after acquiring an additional 34,715 shares during the period. Congress Asset Management Co. increased its stake in UFP Technologies by 32.4% during the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company's stock worth $97,942,000 after acquiring an additional 107,908 shares during the last quarter. Geneva Capital Management LLC increased its stake in UFP Technologies by 88.6% during the third quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company's stock worth $31,636,000 after acquiring an additional 74,461 shares during the last quarter. Finally, Annex Advisory Services LLC raised its holdings in shares of UFP Technologies by 3.5% in the 4th quarter. Annex Advisory Services LLC now owns 126,884 shares of the industrial products company's stock worth $28,172,000 after purchasing an additional 4,271 shares during the period. Institutional investors and hedge funds own 87.28% of the company's stock.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the transaction, the director directly owned 855 shares of the company's stock, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the completion of the transaction, the director owned 5,476 shares of the company's stock, valued at $1,310,352.04. This trade represents a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.59% of the company's stock.

UFP Technologies Stock Up 3.6%

Shares of NASDAQ UFPT opened at $242.95 on Thursday. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $274.93. The company has a market cap of $1.88 billion, a P/E ratio of 27.58 and a beta of 1.11. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $218.68 and a 200 day moving average price of $224.09.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.30. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The company had revenue of $154.20 million for the quarter, compared to analysts' expectations of $154.78 million. During the same quarter in the previous year, the firm posted $2.47 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on UFPT. Wall Street Zen raised UFP Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings restated a "hold (c)" rating on shares of UFP Technologies in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, UFP Technologies currently has an average rating of "Hold" and an average target price of $289.00.

UFP Technologies Company Profile

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

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