Victory Capital Management Inc. Has $757,000 Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Key Points

• Victory Capital Management Inc. reduced its stake in UFP Technologies by 88.3%, selling 28,307 shares, and now holds 3,751 shares valued at approximately $757,000.
• UFP Technologies reported a quarterly earnings per share of $2.47, exceeding estimates by $0.42, with revenue of $148.15 million compared to expectations of $139.93 million.
• Analyst ratings include a "buy" recommendation from Lake Street Capital, who set a price target of $252.00 for UFP Technologies shares.

Victory Capital Management Inc. cut its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 88.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,751 shares of the industrial products company's stock after selling 28,307 shares during the period. Victory Capital Management Inc.'s holdings in UFP Technologies were worth $757,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of UFP Technologies by 37.1% during the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after acquiring an additional 156,142 shares during the period. Boston Trust Walden Corp raised its holdings in shares of UFP Technologies by 98.4% during the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after acquiring an additional 106,197 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of UFP Technologies during the fourth quarter worth $16,808,000. Price T Rowe Associates Inc. MD raised its holdings in shares of UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after acquiring an additional 63,899 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of UFP Technologies by 508.8% during the fourth quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company's stock worth $16,907,000 after acquiring an additional 57,787 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies 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 transaction, the senior vice president owned 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 SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th.

UFP Technologies Stock Up 0.1%

UFP Technologies stock traded up $0.18 during mid-day trading on Friday, reaching $226.57. The company's stock had a trading volume of 110,703 shares, compared to its average volume of 82,784. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 27.73 and a beta of 1.14. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The business's 50 day simple moving average is $238.77 and its 200 day simple moving average is $233.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.45 and a current ratio of 2.58.

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 11.59% and a return on equity of 21.27%. The company had revenue of $148.15 million during the quarter, compared to the consensus estimate of $139.93 million.

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.