Bank of New York Mellon Corp Has $8.54 Million Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Bank of New York Mellon Corp trimmed its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,338 shares of the industrial products company's stock after selling 3,134 shares during the period. Bank of New York Mellon Corp owned 0.55% of UFP Technologies worth $8,540,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UFPT. Wasatch Advisors LP grew 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 purchasing an additional 156,142 shares during the last quarter. Vanguard Group Inc. lifted its position in UFP Technologies by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after buying an additional 17,356 shares in the last quarter. Congress Asset Management Co. grew its holdings in UFP Technologies by 10.0% during the 1st quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock worth $62,408,000 after acquiring an additional 28,070 shares during the last quarter. Boston Trust Walden Corp increased its position in UFP Technologies by 98.4% in the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock valued at $43,196,000 after acquiring an additional 106,197 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position 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. Institutional investors own 87.28% of the company's stock.

Insiders Place Their Bets

In other UFP Technologies 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 value of $324,236.76. Following the transaction, the senior vice president directly owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by corporate insiders.

UFP Technologies Trading Up 2.5%

UFP Technologies stock traded up $5.83 during mid-day trading on Friday, hitting $241.92. The stock had a trading volume of 46,964 shares, compared to its average volume of 93,221. The stock has a 50-day simple moving average of $239.00 and a two-hundred day simple moving average of $234.11. The stock has a market capitalization of $1.87 billion, a PE ratio of 29.61 and a beta of 1.11. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.47.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Raymond James Financial began coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set 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 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.