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

Squarepoint Ops LLC lowered its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 76.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 909 shares of the industrial products company's stock after selling 2,970 shares during the quarter. Squarepoint Ops LLC's holdings in UFP Technologies were worth $222,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of UFPT. Wasatch Advisors LP lifted 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 valued at $141,007,000 after purchasing an additional 156,142 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in UFP Technologies in the fourth quarter valued at about $16,808,000. Price T Rowe Associates Inc. MD boosted its holdings in UFP Technologies by 55.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after acquiring an additional 63,899 shares in the last quarter. Royal Bank of Canada grew its stake in shares of UFP Technologies by 508.8% during the fourth quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company's stock worth $16,907,000 after acquiring an additional 57,787 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of UFP Technologies by 48.1% during the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock worth $33,338,000 after acquiring an additional 44,292 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UFPT shares. Raymond James began coverage on shares of UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating on the stock. Lake Street Capital set a $252.00 target price on UFP Technologies and gave the stock a "buy" rating in a research note on Wednesday, May 7th.

Insider Transactions at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 12,585 shares in the company, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

UFP Technologies Price Performance

Shares of UFP Technologies stock traded up $0.73 on Monday, hitting $238.19. The company's stock had a trading volume of 563,697 shares, compared to its average volume of 100,794. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 33.98 and a beta of 1.12. 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 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The firm has a fifty day moving average price of $220.28 and a 200-day moving average price of $241.37.

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

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.