Cetera Investment Advisers Acquires 3,346 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Cetera Investment Advisers boosted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 240.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,737 shares of the industrial products company's stock after acquiring an additional 3,346 shares during the quarter. Cetera Investment Advisers owned approximately 0.06% of UFP Technologies worth $956,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new position in UFP Technologies during the 4th quarter worth approximately $42,000. Lazard Asset Management LLC acquired a new stake in UFP Technologies during the 4th quarter worth approximately $84,000. Park Square Financial Group LLC acquired a new stake in UFP Technologies during the 4th quarter worth approximately $107,000. Canada Pension Plan Investment Board raised its holdings in UFP Technologies by 25.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after buying an additional 100 shares during the period. Finally, Dakota Wealth Management acquired a new stake in UFP Technologies during the 1st quarter worth approximately $204,000. Institutional investors own 87.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital lifted their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a report on Wednesday, August 6th.

UFP Technologies Price Performance

UFP Technologies stock traded down $4.46 during trading hours on Friday, reaching $219.54. 99,660 shares of the stock were exchanged, compared to its average volume of 113,805. The company has a market cap of $1.69 billion, a P/E ratio of 25.44 and a beta of 1.14. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The stock has a 50 day moving average of $235.49 and a two-hundred day moving average of $230.03.

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

About UFP Technologies

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.