UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 94.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,060 shares of the industrial products company's stock after selling 37,244 shares during the quarter. Assenagon Asset Management S.A.'s holdings in UFP Technologies were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Principal Securities Inc. raised its stake in shares of UFP Technologies by 110.4% in the 4th quarter. Principal Securities Inc. now owns 444 shares of the industrial products company's stock valued at $109,000 after acquiring an additional 233 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of UFP Technologies by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock valued at $9,562,000 after acquiring an additional 1,444 shares in the last quarter. Truist Financial Corp acquired a new position in shares of UFP Technologies during the 4th quarter valued at $401,000. Venturi Wealth Management LLC acquired a new position in shares of UFP Technologies during the 4th quarter valued at $74,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of UFP Technologies by 16.7% during the 4th quarter. New York State Common Retirement Fund now owns 68,500 shares of the industrial products company's stock valued at $16,749,000 after acquiring an additional 9,804 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, SVP Christopher P. Litterio sold 1,473 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value 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. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by insiders.

UFP Technologies Stock Performance

UFP Technologies stock opened at $240.25 on Friday. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 29.41 and a beta of 1.12. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45. The firm's fifty day moving average price is $226.90 and its 200 day moving average price is $237.52.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.42. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%. The firm had revenue of $148.15 million for the quarter, compared to the consensus estimate of $139.93 million.

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.

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