Wasatch Advisors LP Sells 94,051 Shares of UFP Technologies, Inc. $UFPT

Key Points

• Wasatch Advisors reduced its UFP Technologies stake by 12.1%, selling 94,051 shares in the second quarter. It still held 683,262 shares worth approximately $181.2 million, representing an 8.83% ownership stake.
• Institutional investors and hedge funds own 87.28% of UFPT, while company insiders have sold 16,895 shares worth $5.28 million over the past 90 days.
• UFP Technologies reported quarterly earnings of $2.92 per share, beating estimates by $0.61, and revenue of $173.96 million versus the $159.38 million consensus. Analysts’ average rating remains “Hold,” despite one recent upgrade to “Buy.”

Wasatch Advisors LP reduced its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 12.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 683,262 shares of the industrial products company's stock after selling 94,051 shares during the period. UFP Technologies accounts for approximately 1.2% of Wasatch Advisors LP's investment portfolio, making the stock its 27th biggest holding. Wasatch Advisors LP owned approximately 8.83% of UFP Technologies worth $181,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UFPT. Global Retirement Partners LLC acquired a new stake in UFP Technologies during the fourth quarter worth approximately $28,000. Versant Capital Management Inc increased its position in UFP Technologies by 1,291.7% in the 2nd quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company's stock valued at $44,000 after buying an additional 155 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company's stock worth $41,000 after buying an additional 165 shares during the period. Canada Pension Plan Investment Board bought a new position in UFP Technologies in the second quarter worth approximately $49,000. Finally, PNC Financial Services Group Inc. grew its stake in UFP Technologies by 66.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 94 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UFP Technologies

In other UFP Technologies news, Director Cynthia L. Feldmann sold 1,200 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $239.29, for a total transaction of $287,148.00. Following the transaction, the director directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman R Jeffrey Bailly sold 10,682 shares of UFP Technologies stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $318.63, for a total transaction of $3,403,605.66. Following the transaction, the chairman directly owned 18,024 shares in the company, valued at $5,742,987.12. This represents a 37.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 16,895 shares of company stock worth $5,284,236. Company insiders own 4.59% of the company's stock.

UFP Technologies Stock Performance

Shares of UFP Technologies stock opened at $321.91 on Wednesday. The company has a market cap of $2.49 billion, a PE ratio of 34.69 and a beta of 1.08. UFP Technologies, Inc. has a 52 week low of $173.86 and a 52 week high of $338.71. The business has a 50 day moving average price of $254.48 and a 200-day moving average price of $230.95. The company has a quick ratio of 1.72, a current ratio of 3.00 and a debt-to-equity ratio of 0.26.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.61. The company had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%. Equities analysts anticipate that UFP Technologies, Inc. will post 10.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UFPT has been the topic of a number of recent research reports. Weiss Ratings upgraded UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of UFP Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold".

About UFP Technologies

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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