UFP Technologies, Inc. $UFPT Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments sharply reduced its UFP Technologies stake by 87.2% in the first quarter, selling 17,725 shares and ending with 2,604 shares valued at about $504,000.
• Several other institutional investors also adjusted positions in the stock, and hedge funds and other institutions now own 87.28% of UFP Technologies.
• UFP Technologies recently reported better-than-expected earnings of $2.48 per share, while analysts currently rate the stock a consensus Hold with an average price target of $289.00.

Montrusco Bolton Investments Inc. lessened its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 87.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,604 shares of the industrial products company's stock after selling 17,725 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in UFP Technologies were worth $504,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in UFP Technologies by 60.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company's stock valued at $37,115,000 after acquiring an additional 62,472 shares during the period. UBS Group AG grew its stake in shares of UFP Technologies by 22.4% during the 4th quarter. UBS Group AG now owns 189,403 shares of the industrial products company's stock worth $42,053,000 after purchasing an additional 34,715 shares during the period. Congress Asset Management Co. increased its holdings in shares of UFP Technologies by 32.4% during the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company's stock valued at $97,942,000 after purchasing an additional 107,908 shares in the last quarter. Geneva Capital Management LLC increased its holdings in shares of UFP Technologies by 88.6% during the 3rd quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company's stock valued at $31,636,000 after purchasing an additional 74,461 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in shares of UFP Technologies by 3.5% in the 4th quarter. Annex Advisory Services LLC now owns 126,884 shares of the industrial products company's stock valued at $28,172,000 after purchasing an additional 4,271 shares during the period. Hedge funds and other institutional investors own 87.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of UFP Technologies in a report on Friday, May 29th. Wall Street Zen raised shares of UFP Technologies from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $289.00.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director directly owned 855 shares of the company's stock, valued at $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the transaction, the director directly owned 5,476 shares of the company's stock, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.59% of the company's stock.

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $272.36 on Friday. The company's 50-day simple moving average is $227.93 and its 200-day simple moving average is $226.47. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $275.20. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 30.91 and a beta of 1.07. The company has a quick ratio of 1.69, a current ratio of 2.91 and a debt-to-equity ratio of 0.32.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm had revenue of $154.20 million during the quarter, compared to the consensus estimate of $154.78 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The company's revenue for the quarter was up 4.1% on a year-over-year basis. Equities analysts predict that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

UFP Technologies Company 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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