Zions Bancorporation National Association UT Purchases Shares of 6,436 UFP Technologies, Inc. (NASDAQ:UFPT)

Key Points

• Zions Bancorporation National Association UT has purchased a new stake of 6,436 shares in UFP Technologies, Inc., valued at approximately $1,298,000, representing about 0.08% of the company.
• Other institutional investors, including LPL Financial LLC and Wells Fargo & Company MN, have increased their holdings in UFP Technologies significantly during the fourth quarter.
• UFP Technologies reported a quarterly earnings of $2.50 per share, exceeding estimates, and experienced a 37.2% year-over-year revenue growth, reaching $151.18 million.

Zions Bancorporation National Association UT purchased a new stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,436 shares of the industrial products company's stock, valued at approximately $1,298,000. Zions Bancorporation National Association UT owned about 0.08% of UFP Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of UFPT. LPL Financial LLC increased its holdings in shares of UFP Technologies by 26.2% during the fourth quarter. LPL Financial LLC now owns 9,151 shares of the industrial products company's stock valued at $2,329,000 after acquiring an additional 1,898 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of UFP Technologies by 4.8% during the fourth quarter. JPMorgan Chase & Co. now owns 11,573 shares of the industrial products company's stock valued at $2,830,000 after acquiring an additional 525 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of UFP Technologies during the fourth quarter valued at about $298,000. Wells Fargo & Company MN increased its holdings in shares of UFP Technologies by 24.4% during the fourth quarter. Wells Fargo & Company MN now owns 8,312 shares of the industrial products company's stock valued at $2,032,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of UFP Technologies by 60.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,812 shares of the industrial products company's stock valued at $5,089,000 after acquiring an additional 7,865 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT opened at $205.56 on Friday. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The company's 50 day moving average is $237.27 and its 200 day moving average is $231.78. The company has a current ratio of 2.77, a quick ratio of 1.45 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.58 billion, a PE ratio of 23.82 and a beta of 1.14.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.25. UFP Technologies had a net margin of 11.40% and a return on equity of 21.54%. The company had revenue of $151.18 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the company earned $1.86 EPS. UFP Technologies's quarterly revenue was up 37.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price objective on shares of UFP Technologies from $252.00 to $289.00 and gave the company a "buy" rating in a report on Wednesday.

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.

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