Royal Bank of Canada Has $18.96 Million Stock Holdings in UFP Technologies, Inc. $UFPT

Key Points

• The Royal Bank of Canada increased its stake in UFP Technologies, Inc. by 35.9%, acquiring an additional 24,825 shares and bringing its ownership to 93,970 shares valued at approximately $18.96 million.
• UFP Technologies reported earnings of $2.50 per share, exceeding analyst expectations, with a quarterly revenue increase of 37.2% year-over-year.
• Analysts have set a new target price for UFP Technologies at $289.00, with a consensus rating of "Moderate Buy" from the market.

Royal Bank of Canada lifted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 35.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,970 shares of the industrial products company's stock after purchasing an additional 24,825 shares during the period. Royal Bank of Canada owned approximately 1.22% of UFP Technologies worth $18,955,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in UFP Technologies during the first quarter valued at $2,971,000. Farther Finance Advisors LLC raised its position in 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 buying an additional 959 shares during the period. Fiera Capital Corp raised its position in UFP Technologies by 12.5% during the first quarter. Fiera Capital Corp now owns 46,105 shares of the industrial products company's stock valued at $9,300,000 after buying an additional 5,105 shares during the period. Principal Financial Group Inc. raised its position in UFP Technologies by 3.0% during the first quarter. Principal Financial Group Inc. now owns 40,274 shares of the industrial products company's stock valued at $8,124,000 after buying an additional 1,166 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in UFP Technologies by 25.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company's stock valued at $208,000 after purchasing an additional 212 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Stock Performance

Shares of NASDAQ UFPT traded up $4.71 during trading hours on Monday, hitting $204.03. 129,296 shares of the company's stock were exchanged, compared to its average volume of 96,634. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 23.64 and a beta of 1.20. The company's 50-day moving average price is $222.47 and its 200-day moving average price is $222.68.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.25. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The business had revenue of $151.18 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the firm earned $1.86 EPS. The firm's revenue was up 37.2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upped their price target on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $289.00.

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.