UFP Technologies, Inc. (NASDAQ:UFPT) is Palisades Investment Partners LLC's 9th Largest Position

Palisades Investment Partners LLC boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,927 shares of the industrial products company's stock after purchasing an additional 2,945 shares during the quarter. UFP Technologies comprises 3.6% of Palisades Investment Partners LLC's portfolio, making the stock its 9th largest position. Palisades Investment Partners LLC owned approximately 0.46% of UFP Technologies worth $8,540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UFPT. Principal Financial Group Inc. grew its holdings in shares of UFP Technologies by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock valued at $9,562,000 after buying an additional 1,444 shares during the last quarter. Northern Trust Corp grew its holdings in shares of UFP Technologies by 8.1% during the fourth quarter. Northern Trust Corp now owns 92,064 shares of the industrial products company's stock valued at $22,511,000 after buying an additional 6,873 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of UFP Technologies during the fourth quarter valued at approximately $16,808,000. Mesirow Financial Investment Management Inc. grew its holdings in shares of UFP Technologies by 102.3% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company's stock valued at $775,000 after buying an additional 1,603 shares during the last quarter. Finally, Amundi grew its holdings in shares of UFP Technologies by 197.1% during the fourth quarter. Amundi now owns 3,812 shares of the industrial products company's stock valued at $957,000 after buying an additional 2,529 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Daniel C. Croteau sold 6,846 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Christopher P. Litterio sold 1,473 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders own 4.40% of the company's stock.

UFP Technologies Stock Performance

UFP Technologies stock traded up $0.74 during midday trading on Friday, reaching $234.42. 86,534 shares of the company traded hands, compared to its average volume of 86,617. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 33.44 and a beta of 1.10. The business has a 50 day moving average of $214.23 and a two-hundred day moving average of $247.42. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43.

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 for the quarter, beating 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 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.