LPL Financial LLC Has $2.82 Million Holdings in UFP Technologies, Inc. $UFPT

Key Points

• LPL Financial LLC increased its stake in UFP Technologies by 54.6%, owning 14,150 shares valued at approximately $2.8 million as of the most recent SEC filing.
• UFP Technologies reported earnings per share of $2.50 for the quarter, exceeding the consensus estimate of $2.25, with a year-over-year revenue increase of 37.2%.
• Analyst firm Lake Street Capital raised its price target for UFP Technologies from $252.00 to $289.00, maintaining a "buy" rating on the stock.

LPL Financial LLC lifted its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 54.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,150 shares of the industrial products company's stock after acquiring an additional 4,999 shares during the period. LPL Financial LLC owned approximately 0.18% of UFP Technologies worth $2,824,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of UFPT. Johnson Financial Group Inc. acquired a new stake in UFP Technologies in the fourth quarter worth $42,000. Lazard Asset Management LLC acquired a new stake in UFP Technologies in the fourth quarter worth $84,000. Park Square Financial Group LLC acquired a new stake in UFP Technologies in the fourth quarter worth $107,000. Canada Pension Plan Investment Board raised its holdings in UFP Technologies by 25.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 500 shares of the industrial products company's stock worth $122,000 after purchasing an additional 100 shares during the period. Finally, Dakota Wealth Management acquired a new stake in UFP Technologies in the first quarter worth $204,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Up 2.8%

Shares of UFP Technologies stock traded up $6.18 on Friday, hitting $225.74. The company had a trading volume of 106,820 shares, compared to its average volume of 117,941. The firm has a market capitalization of $1.74 billion, a P/E ratio of 26.16 and a beta of 1.14. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.77 and a quick ratio of 1.53. The stock has a 50-day moving average of $233.88 and a 200-day moving average of $228.44.

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

Wall Street Analyst Weigh In

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