UFP Technologies, Inc. $UFPT Shares Sold by Swedbank AB

Key Points

• Swedbank AB cut its stake in UFP Technologies by 28.1% in the first quarter, selling 45,000 shares and leaving it with 115,005 shares valued at about $22.3 million.
• UFP Technologies posted solid quarterly results, reporting EPS of $2.48 versus estimates of $2.18 and revenue of $154.2 million, with revenue up 4.1% year over year.
• Analysts and insiders remain cautious: the stock has a consensus “Hold” rating with a $289 price target, while two directors recently sold shares and insiders own 4.59% of the company.

Swedbank AB lessened its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 28.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,005 shares of the industrial products company's stock after selling 45,000 shares during the quarter. Swedbank AB owned approximately 1.49% of UFP Technologies worth $22,265,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in UFP Technologies in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC grew its position in shares of UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company's stock valued at $41,000 after buying an additional 165 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of UFP Technologies during the second quarter worth about $49,000. PNC Financial Services Group Inc. increased its position in UFP Technologies by 66.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company's stock worth $52,000 after buying an additional 94 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of UFP Technologies in the third quarter valued at about $51,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on UFPT. Wall Street Zen upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings restated a "hold (c)" rating on shares of UFP Technologies in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $289.00.

UFP Technologies Trading Down 0.7%

Shares of UFPT opened at $249.71 on Friday. The stock's 50-day moving average is $232.86 and its two-hundred day moving average is $227.52. The stock has a market cap of $1.93 billion, a PE ratio of 28.34 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. UFP Technologies, Inc. has a 12 month low of $173.86 and a 12 month high of $279.49.

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

Insider Buying and Selling

In other news, Director Daniel C. Croteau sold 2,864 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares in the company, valued at approximately $189,562.05. This represents a 77.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.59% of the stock is owned by company insiders.

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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