Bank of America Corp DE Has $3.32 Million Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Bank of America Corp DE lessened its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 23.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,587 shares of the industrial products company's stock after selling 4,221 shares during the period. Bank of America Corp DE owned about 0.18% of UFP Technologies worth $3,322,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP lifted its stake in UFP Technologies by 37.1% in the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock valued at $141,007,000 after acquiring an additional 156,142 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of UFP Technologies in the fourth quarter valued at approximately $26,395,000. Raymond James Financial Inc. bought a new position in shares of UFP Technologies during the 4th quarter worth about $16,808,000. Price T Rowe Associates Inc. MD raised its holdings in UFP Technologies by 55.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock valued at $43,625,000 after acquiring an additional 63,899 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of UFP Technologies by 48.1% in the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock valued at $33,338,000 after purchasing an additional 44,292 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Trading Up 0.5%

Shares of UFP Technologies stock traded up $1.20 during trading on Wednesday, reaching $240.08. 596,315 shares of the company were exchanged, compared to its average volume of 95,615. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The business has a 50-day moving average price of $218.76 and a 200-day moving average price of $242.82. 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 $1.85 billion, a price-to-earnings ratio of 34.25 and a beta of 1.10.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, topping 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 company had revenue of $148.15 million for the quarter, compared to analysts' expectations of $139.93 million.

Insider Activity

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 transaction, the senior vice president now directly owns 12,585 shares of the company's stock, valued at $2,770,210.20. This trade represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on UFPT shares. Raymond James began 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 UFP Technologies and gave the company a "buy" rating in a research 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.