Tidal Investments LLC Cuts Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Tidal Investments LLC decreased its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 40.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,125 shares of the industrial products company's stock after selling 1,453 shares during the period. Tidal Investments LLC's holdings in UFP Technologies were worth $520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPT. AlphaQuest LLC bought a new stake in UFP Technologies in the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. bought a new stake in UFP Technologies in the fourth quarter valued at approximately $42,000. Venturi Wealth Management LLC acquired a new position in shares of UFP Technologies in the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC increased its stake in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock worth $81,000 after purchasing an additional 66 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in UFP Technologies during the 4th quarter worth approximately $84,000. Institutional investors own 87.28% of the company's stock.

Wall Street Analysts Forecast Growth

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

UFP Technologies Trading Down 2.2%

Shares of UFPT traded down $5.22 during mid-day trading on Monday, reaching $228.98. 76,592 shares of the company were exchanged, compared to its average volume of 121,402. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The stock has a market capitalization of $1.76 billion, a PE ratio of 32.67 and a beta of 1.10. The business has a 50 day simple moving average of $216.66 and a two-hundred day simple moving average of $243.31.

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

Insiders Place Their Bets

In other news, SVP Christopher P. Litterio sold 1,473 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was 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 in the company, valued at $2,770,210.20. The trade was a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

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.