Swedbank AB Increases Position in UFP Technologies, Inc. $UFPT

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 boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 18.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,000 shares of the industrial products company's stock after purchasing an additional 25,000 shares during the period. Swedbank AB owned approximately 2.08% of UFP Technologies worth $39,066,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Congress Asset Management Co. lifted its stake in UFP Technologies by 10.0% in the first quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock worth $62,408,000 after purchasing an additional 28,070 shares during the last quarter. American Century Companies Inc. lifted its stake in UFP Technologies by 1,858.2% in the first quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock worth $58,010,000 after purchasing an additional 272,902 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of UFP Technologies by 98.4% during the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock valued at $43,196,000 after acquiring an additional 106,197 shares during the last quarter. Invesco Ltd. raised its stake in shares of UFP Technologies by 1.9% during the first quarter. Invesco Ltd. now owns 178,174 shares of the industrial products company's stock valued at $35,939,000 after acquiring an additional 3,313 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of UFP Technologies by 28.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 132,571 shares of the industrial products company's stock valued at $26,741,000 after acquiring an additional 28,997 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Trading Up 1.4%

UFPT stock traded up $2.69 during trading on Monday, reaching $195.46. The company had a trading volume of 88,977 shares, compared to its average volume of 133,582. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. The company has a market cap of $1.51 billion, a P/E ratio of 22.65 and a beta of 1.20. The business has a 50 day moving average of $218.80 and a 200 day moving average of $222.28. 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 (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, beating 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 company had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the previous year, the company posted $1.86 earnings per share. The firm's revenue was up 37.2% on a year-over-year basis.

Analyst Ratings Changes

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

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.