Russell Investments Group Ltd. Has $5.87 Million Holdings in UFP Technologies, Inc. $UFPT

Key Points

• Russell Investments Group Ltd. reduced its holdings in UFP Technologies by 12.1%, selling 3,989 shares, leaving it with 29,112 shares worth approximately $5.87 million.
• UFP Technologies reported earnings of $2.50 per share, exceeding expectations, with revenue for the quarter up 37.2% year-over-year despite a slight shortfall in revenue estimates.
• Analysts at Lake Street Capital have upgraded their price target for UFP Technologies from $252.00 to $289.00, rating the stock as a "buy".

Russell Investments Group Ltd. reduced its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,112 shares of the industrial products company's stock after selling 3,989 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.38% of UFP Technologies worth $5,872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in shares of UFP Technologies by 4.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,108 shares of the industrial products company's stock valued at $425,000 after acquiring an additional 82 shares during the last quarter. 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 valued at $122,000 after acquiring an additional 100 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of UFP Technologies by 5.4% during the 1st quarter. Portside Wealth Group LLC now owns 1,971 shares of the industrial products company's stock valued at $398,000 after acquiring an additional 101 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of UFP Technologies by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,529 shares of the industrial products company's stock valued at $2,819,000 after acquiring an additional 163 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of UFP Technologies by 17.3% during the 1st quarter. Diversify Advisory Services LLC now owns 1,111 shares of the industrial products company's stock valued at $235,000 after acquiring an additional 164 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

UFP Technologies Stock Down 1.1%

UFPT stock traded down $2.51 during trading hours on Tuesday, reaching $218.43. 101,705 shares of the stock were exchanged, compared to its average volume of 120,001. The firm's 50-day moving average is $233.20 and its 200-day moving average is $227.34. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 25.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41.

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

UFP Technologies 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.