Ameriprise Financial Inc. Has $6.04 Million Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Ameriprise Financial Inc. decreased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,704 shares of the industrial products company's stock after selling 8,466 shares during the period. Ameriprise Financial Inc. owned 0.32% of UFP Technologies worth $6,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFPT. AlphaQuest LLC acquired a new stake in UFP Technologies during the 4th quarter valued at $25,000. Johnson Financial Group Inc. purchased a new stake in shares of UFP Technologies during the fourth quarter worth $42,000. Venturi Wealth Management LLC purchased a new position in UFP Technologies in the fourth quarter valued at about $74,000. EverSource Wealth Advisors LLC grew its stake in UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 66 shares in the last quarter. Finally, KBC Group NV grew its stake in UFP Technologies by 37.9% in the fourth 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 in the last quarter. Institutional investors own 87.28% of the company's stock.

Insider Buying and Selling

In other news, SVP Christopher P. Litterio sold 1,473 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the sale, the senior vice president now owns 12,585 shares of the company's stock, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel C. Croteau sold 6,846 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares of the company's stock, valued at approximately $407,711.85. This represents a 79.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.40% of the company's stock.

UFP Technologies Stock Performance

Shares of UFPT traded down $8.60 during trading hours on Wednesday, reaching $228.04. 54,069 shares of the company traded hands, compared to its average volume of 86,690. The stock's fifty day moving average is $215.11 and its 200 day moving average is $245.89. The stock has a market cap of $1.76 billion, a P/E ratio of 32.51 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41.

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

Wall Street Analyst Weigh In

UFPT has been the topic of a number of recent research reports. Raymond James initiated coverage on UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the stock a "buy" rating in a report on Wednesday, May 7th.

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.