Annex Advisory Services LLC Buys 13,305 Shares of UFP Technologies, Inc. $UFPT

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 increased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 12.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,593 shares of the industrial products company's stock after acquiring an additional 13,305 shares during the quarter. Annex Advisory Services LLC owned about 1.54% of UFP Technologies worth $28,956,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Comerica Bank increased its holdings in UFP Technologies by 2.1% during the first quarter. Comerica Bank now owns 2,862 shares of the industrial products company's stock worth $577,000 after buying an additional 58 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in 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 worth $623,000 after buying an additional 62 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in UFP Technologies by 4.0% during the first quarter. Kestra Private Wealth Services LLC now owns 2,108 shares of the industrial products company's stock worth $425,000 after buying an additional 82 shares during the last quarter. State of Wyoming increased its holdings in UFP Technologies by 34.7% during the first quarter. State of Wyoming now owns 365 shares of the industrial products company's stock worth $74,000 after buying an additional 94 shares during the last quarter. Finally, Portside Wealth Group LLC increased its holdings in UFP Technologies by 5.4% during the first 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 during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Performance

Shares of UFPT stock traded up $3.18 on Tuesday, hitting $198.77. The company's stock had a trading volume of 47,148 shares, compared to its average volume of 133,309. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $354.22. The stock's 50 day moving average is $217.80 and its 200-day moving average is $222.10. 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 company has a market capitalization of $1.53 billion, a PE ratio of 23.03 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

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

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.