UFP Technologies, Inc. $UFPT Shares Purchased by Swedbank AB

Key Points

• Swedbank AB increased its stake in UFP Technologies, Inc. by 18.5%, owning 160,000 shares valued at approximately $39 million following the acquisition of an additional 25,000 shares.
• Wall Street analysts forecast positive growth for UFP Technologies, with Lake Street Capital raising its price target from $252 to $289 and issuing a "buy" rating.
• UFP Technologies reported a 37.2% year-over-year increase in revenue, achieving $2.50 earnings per share, surpassing the consensus estimate by $0.25.

Swedbank AB raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 18.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,000 shares of the industrial products company's stock after purchasing an additional 25,000 shares during the period. Swedbank AB owned 2.08% of UFP Technologies worth $39,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of UFP Technologies in the first quarter valued at about $2,971,000. Farther Finance Advisors LLC lifted its holdings in shares of UFP Technologies by 422.5% in the first quarter. Farther Finance Advisors LLC now owns 1,186 shares of the industrial products company's stock valued at $242,000 after purchasing an additional 959 shares in the last quarter. Fiera Capital Corp lifted its holdings in shares of UFP Technologies by 12.5% in the first quarter. Fiera Capital Corp now owns 46,105 shares of the industrial products company's stock valued at $9,300,000 after purchasing an additional 5,105 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of UFP Technologies by 3.0% in 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 purchasing an additional 1,166 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of 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. Hedge funds and other institutional investors own 87.28% of the company's stock.

UFP Technologies Trading Up 0.8%

Shares of NASDAQ:UFPT traded up $1.65 during trading on Tuesday, reaching $197.24. The stock had a trading volume of 15,297 shares, compared to its average volume of 133,146. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $354.22. The company has a quick ratio of 1.53, a current ratio of 2.77 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $217.80 and a 200-day moving average price of $222.10. The stock has a market cap of $1.52 billion, a P/E ratio of 22.86 and a beta of 1.20.

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

Analyst Ratings Changes

Separately, Lake Street Capital boosted their price objective 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 investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, UFP Technologies currently has a consensus 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.