Vestcor Inc Acquires 3,421 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Key Points

• Vestcor Inc significantly increased its stake in UFP Technologies, Inc. by 309.6%, owning 4,526 shares valued at approximately $913,000 as of the latest SEC filing.
• UFP Technologies reported $2.47 EPS for the most recent quarter, exceeding estimates by $0.42, with revenues of $148.15 million.
• Wall Street analysts have set a target price of $252.00 for UFP Technologies, indicating a "buy" rating for the company's shares.

Vestcor Inc lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 309.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,526 shares of the industrial products company's stock after acquiring an additional 3,421 shares during the quarter. Vestcor Inc owned 0.06% of UFP Technologies worth $913,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in shares of UFP Technologies in the fourth quarter worth $367,000. LPL Financial LLC boosted its stake in shares of UFP Technologies by 26.2% during the 4th quarter. LPL Financial LLC now owns 9,151 shares of the industrial products company's stock valued at $2,329,000 after purchasing an additional 1,898 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of UFP Technologies by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock valued at $136,309,000 after purchasing an additional 17,356 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of UFP Technologies by 4.8% during the 4th quarter. JPMorgan Chase & Co. now owns 11,573 shares of the industrial products company's stock valued at $2,830,000 after purchasing an additional 525 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of UFP Technologies by 48.1% during the 4th quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock valued at $33,338,000 after purchasing an additional 44,292 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Stock Up 0.1%

UFP Technologies stock traded up $0.18 during mid-day trading on Friday, reaching $226.57. The stock had a trading volume of 110,703 shares, compared to its average volume of 82,784. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 27.73 and a beta of 1.14. The company has a 50-day moving average price of $238.77 and a two-hundred day moving average price of $233.49. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.42. The company had revenue of $148.15 million for the quarter, compared to analysts' expectations of $139.93 million. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%.

Analyst Ratings Changes

Separately, Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th.

Insider Transactions at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the transaction, the senior vice president owned 12,585 shares in the company, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

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.