Millennium Management LLC Acquires 32,103 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Millennium Management LLC lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 323.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,032 shares of the industrial products company's stock after buying an additional 32,103 shares during the quarter. Millennium Management LLC owned approximately 0.55% of UFP Technologies worth $10,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC grew its position in UFP Technologies by 390.6% during the 3rd quarter. Barclays PLC now owns 12,937 shares of the industrial products company's stock valued at $4,098,000 after purchasing an additional 10,300 shares during the last quarter. SG Americas Securities LLC grew its position in UFP Technologies by 95.6% during the 4th quarter. SG Americas Securities LLC now owns 2,220 shares of the industrial products company's stock valued at $543,000 after purchasing an additional 1,085 shares during the last quarter. Inspire Investing LLC grew its position in UFP Technologies by 29.9% during the 4th quarter. Inspire Investing LLC now owns 1,681 shares of the industrial products company's stock valued at $411,000 after purchasing an additional 387 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in UFP Technologies during the 4th quarter valued at about $122,000. Finally, KBC Group NV grew its position in UFP Technologies by 37.9% during the 4th quarter. KBC Group NV now owns 375 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 103 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the 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 owns 12,585 shares in the company, valued at $2,770,210.20. This represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company's stock.

UFP Technologies Stock Performance

UFPT traded up $3.91 during midday trading on Thursday, hitting $232.85. 21,275 shares of the company traded hands, compared to its average volume of 115,496. 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 firm has a market capitalization of $1.79 billion, a PE ratio of 33.12 and a beta of 1.10. The company's 50-day moving average is $215.71 and its 200 day moving average is $245.77. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James assumed coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating on the stock. Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th.

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.