UFP Technologies, Inc. $UFPT Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its UFP Technologies stake by 160% in the first quarter, bringing its holdings to 27,941 shares worth approximately $5.4 million. Institutional investors and hedge funds collectively own 87.28% of the company.
• UFP Technologies reported quarterly EPS of $2.92, exceeding estimates of $2.31, while revenue of $173.96 million also surpassed expectations. Shares opened at $267.53, near the company’s 12-month high.
• Analysts maintain an overall “Hold” rating with an average price target of $289.00, while two directors sold shares in May and June. Insiders currently own 4.59% of the stock.

First Trust Advisors LP grew its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 160.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,941 shares of the industrial products company's stock after purchasing an additional 17,195 shares during the quarter. First Trust Advisors LP owned approximately 0.36% of UFP Technologies worth $5,409,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of UFP Technologies by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company's stock valued at $873,000 after purchasing an additional 190 shares during the period. Millennium Management LLC lifted its position in UFP Technologies by 123.1% during the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company's stock worth $18,915,000 after buying an additional 51,741 shares during the period. Jones Financial Companies Lllp purchased a new position in UFP Technologies during the first quarter worth about $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in UFP Technologies by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company's stock worth $2,593,000 after buying an additional 1,327 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in UFP Technologies by 383.0% in the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company's stock worth $4,761,000 after buying an additional 18,718 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

Insider Transactions at UFP Technologies

In related news, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the sale, the director owned 855 shares of the company's stock, valued at approximately $189,562.05. This represents a 77.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $239.29, for a total transaction of $287,148.00. Following the sale, the director directly owned 5,476 shares of the company's stock, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of UFP Technologies in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, UFP Technologies presently has an average rating of "Hold" and an average target price of $289.00.

UFP Technologies Trading Up 5.0%

Shares of UFPT opened at $267.53 on Tuesday. UFP Technologies, Inc. has a twelve month low of $173.86 and a twelve month high of $279.49. The firm has a market capitalization of $2.07 billion, a P/E ratio of 30.37 and a beta of 1.07. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $242.65 and its 200 day simple moving average is $228.39.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.31 by $0.61. The company had revenue of $173.96 million during the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%. On average, equities research analysts forecast that UFP Technologies, Inc. will post 10.23 earnings per share for the current year.

UFP Technologies Profile

UFP Technologies, Inc NASDAQ: UFPT is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.

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