The Manufacturers Life Insurance Company Buys Shares of 3,732 UFP Technologies, Inc. $UFPT

Key Points

• The Manufacturers Life Insurance Company purchased 3,732 shares of UFP Technologies worth approximately $989,000 during the second quarter. Institutional investors collectively own 87.28% of the company.
• Company insiders have recently reduced their holdings, selling 27,119 shares worth about $8.46 million over the past three months, including significant sales by the chairman and a director.
• UFP Technologies exceeded quarterly expectations, reporting $2.92 in EPS versus the $2.31 consensus and revenue of $173.96 million versus $159.38 million expected. Despite one analyst upgrade, the stock maintains a consensus “Hold” rating.

The Manufacturers Life Insurance Company purchased a new stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,732 shares of the industrial products company's stock, valued at approximately $989,000.

Other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in shares of UFP Technologies during the 4th quarter worth $28,000. Silvant Capital Management LLC acquired a new stake in UFP Technologies in the second quarter valued at about $29,000. Smartleaf Asset Management LLC grew its position in UFP Technologies by 1,500.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. Versant Capital Management Inc grew its position in UFP Technologies by 1,291.7% in the second quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 155 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in UFP Technologies during the second quarter worth about $49,000. Institutional investors and hedge funds own 87.28% of the company's stock.

Insider Buying and Selling

In related news, Chairman R. Bailly sold 5,013 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $317.87, for a total transaction of $1,593,482.31. Following the completion of the transaction, the chairman directly owned 13,011 shares of the company's stock, valued at $4,135,806.57. This trade represents a 27.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc Kozin sold 7,000 shares of UFP Technologies stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total value of $2,131,500.00. Following the transaction, the director directly owned 21,112 shares in the company, valued at $6,428,604. The trade was a 24.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,119 shares of company stock valued at $8,460,232. Company insiders own 4.59% of the company's stock.

Wall Street Analysts Forecast Growth

UFPT has been the subject of a number of research reports. Wall Street Zen raised shares of UFP Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

UFP Technologies Stock Up 0.8%

Shares of UFPT opened at $288.79 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 3.00. UFP Technologies, Inc. has a 52 week low of $173.86 and a 52 week high of $338.71. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 31.12 and a beta of 1.08. The stock has a fifty day moving average of $279.96 and a 200-day moving average of $237.38.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.61. The firm had revenue of $173.96 million during the quarter, compared to analysts' expectations of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. As a group, sell-side analysts anticipate that UFP Technologies, Inc. will post 10.54 earnings per share for the current fiscal year.

About UFP Technologies

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

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