UFP Technologies, Inc. $UFPT Shares Bought by Annex Advisory Services LLC

Key Points

• Annex Advisory Services LLC increased its stake in UFP Technologies by 12.6%, owning 1.54% of the company worth approximately $28.96 million.
• The company reported $2.50 earnings per share for the last quarter, exceeding analysts' expectations of $2.25, with a revenue increase of 37.2% year-over-year.
• Shares of UFP Technologies are trading at $192.77, down 4.4%, with the stock's consensus rating currently a "Moderate Buy" and a price target of $289.00.

Annex Advisory Services LLC raised its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 12.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,593 shares of the industrial products company's stock after acquiring an additional 13,305 shares during the period. Annex Advisory Services LLC owned 1.54% of UFP Technologies worth $28,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank increased its holdings in shares of UFP Technologies by 2.1% in the 1st quarter. Comerica Bank now owns 2,862 shares of the industrial products company's stock worth $577,000 after acquiring an additional 58 shares during the period. Alliance Wealth Advisors LLC UT increased its stake in shares of UFP Technologies by 2.0% during the first quarter. Alliance Wealth Advisors LLC UT now owns 3,088 shares of the industrial products company's stock valued at $623,000 after acquiring an additional 62 shares during the period. Kestra Private Wealth Services LLC lifted its position in UFP Technologies by 4.0% in the first quarter. Kestra Private Wealth Services LLC now owns 2,108 shares of the industrial products company's stock worth $425,000 after purchasing an additional 82 shares during the period. State of Wyoming boosted its stake in UFP Technologies by 34.7% during the 1st quarter. State of Wyoming now owns 365 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 94 shares in the last quarter. Finally, Portside Wealth Group LLC raised its stake in shares of UFP Technologies by 5.4% in the 1st quarter. Portside Wealth Group LLC now owns 1,971 shares of the industrial products company's stock worth $398,000 after buying an additional 101 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Down 4.4%

Shares of UFPT opened at $192.77 on Friday. The business's fifty day moving average price is $218.80 and its two-hundred day moving average price is $222.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 22.34 and a beta of 1.20. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The firm had revenue of $151.18 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the company earned $1.86 earnings per share. The business's revenue for the quarter was up 37.2% on a year-over-year basis.

Analyst Ratings Changes

Separately, Lake Street Capital raised their price objective on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $289.00.

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.

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