UFP Technologies, Inc. $UFPT Shares Purchased by Mountain Pacific Investment Advisers LLC

Key Points

• Mountain Pacific Investment Advisers LLC increased its holdings in UFP Technologies by 4.6%, now owning 98,910 shares valued at approximately $24.15 million.
• Lake Street Capital has raised its price target for UFP Technologies from $252 to $289, supporting a "buy" rating for the stock.
• UFP Technologies reported earnings of $2.50 per share for the recent quarter, exceeding analysts' expectations and marking a 37.2% increase in revenue year-over-year.

Mountain Pacific Investment Advisers LLC boosted its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,910 shares of the industrial products company's stock after acquiring an additional 4,332 shares during the quarter. UFP Technologies comprises 1.8% of Mountain Pacific Investment Advisers LLC's holdings, making the stock its 25th largest holding. Mountain Pacific Investment Advisers LLC owned approximately 1.28% of UFP Technologies worth $24,150,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC lifted its stake in UFP Technologies by 37.6% during the second quarter. GAMMA Investing LLC now owns 183 shares of the industrial products company's stock worth $45,000 after purchasing an additional 50 shares in the last quarter. State of Wyoming lifted 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 worth $74,000 after acquiring an additional 94 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in UFP Technologies during the 1st quarter valued at about $172,000. CreativeOne Wealth LLC purchased a new position in UFP Technologies during the 1st quarter valued at about $203,000. Finally, Dakota Wealth Management acquired a new position in UFP Technologies in the 1st quarter valued at about $204,000. Institutional investors and hedge funds own 87.28% of the company's stock.

Analysts Set New Price Targets

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

UFP Technologies Stock Down 0.0%

Shares of NASDAQ:UFPT opened at $199.56 on Thursday. The firm has a 50 day simple moving average of $212.88 and a 200-day simple moving average of $221.19. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $354.22. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.54 billion, a PE ratio of 23.12 and a beta of 1.19.

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

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.

Want to see what other hedge funds are holding UFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Technologies, Inc. (NASDAQ:UFPT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.