Squarepoint Ops LLC Cuts Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Squarepoint Ops LLC lessened its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 76.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 909 shares of the industrial products company's stock after selling 2,970 shares during the period. Squarepoint Ops LLC's holdings in UFP Technologies were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UFPT. Wasatch Advisors LP grew its holdings in shares of UFP Technologies by 37.1% during the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after purchasing an additional 156,142 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of UFP Technologies by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after purchasing an additional 17,356 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company's stock worth $68,787,000 after purchasing an additional 35,022 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of UFP Technologies by 55.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after buying an additional 63,899 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of UFP Technologies by 48.1% during the 4th quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock worth $33,338,000 after buying an additional 44,292 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

Wall Street Analysts Forecast Growth

UFPT has been the subject of several recent analyst reports. Raymond James initiated coverage on UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating for the company. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the stock a "buy" rating in a research report on Wednesday, May 7th.

Insider Transactions at UFP Technologies

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 completion of the sale, the senior vice president now owns 12,585 shares in the company, valued at $2,770,210.20. The trade was a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.

UFP Technologies Trading Down 1.8%

UFP Technologies stock traded down $4.28 during trading hours on Wednesday, hitting $234.40. The stock had a trading volume of 143,152 shares, compared to its average volume of 103,665. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 33.44 and a beta of 1.12. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41. The business's 50 day simple moving average is $222.68 and its 200-day simple moving average is $240.80.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.05 by $0.42. The firm had revenue of $148.15 million during the quarter, compared to the consensus estimate of $139.93 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

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.