Vestcor Inc Increases Stake in 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 boosted its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 309.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,526 shares of the industrial products company's stock after acquiring an additional 3,421 shares during the period. Vestcor Inc owned 0.06% of UFP Technologies worth $913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of UFPT. Johnson Financial Group Inc. purchased a new position in shares of UFP Technologies during the fourth quarter worth $42,000. Lazard Asset Management LLC purchased a new position in shares of UFP Technologies during the fourth quarter worth $84,000. Park Square Financial Group LLC purchased a new position in shares of UFP Technologies during the fourth quarter worth $107,000. Canada Pension Plan Investment Board raised its holdings in shares of UFP Technologies by 25.0% during 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 last quarter. Finally, Dakota Wealth Management purchased a new position in shares of UFP Technologies during the first quarter worth $204,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

UFP Technologies Price Performance

UFPT traded up $26.35 on Tuesday, reaching $252.62. 127,602 shares of the company's stock were exchanged, compared to its average volume of 136,050. The stock has a market cap of $1.95 billion, a PE ratio of 31.01 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 stock's fifty day moving average price is $238.61 and its 200-day moving average price is $233.02. 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 posted its 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. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%. The company had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the previous year, the business posted $1.86 EPS. UFP Technologies's revenue was up 37.2% on a year-over-year basis.

Insider Activity at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the transaction, the senior vice president directly owned 12,585 shares in the company, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Analyst Ratings Changes

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

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.