Lord Abbett & CO. LLC Acquires 5,243 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Lord Abbett & CO. LLC grew its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,043 shares of the industrial products company's stock after purchasing an additional 5,243 shares during the quarter. Lord Abbett & CO. LLC owned about 0.90% of UFP Technologies worth $16,882,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wasatch Advisors LP lifted its holdings in shares of UFP Technologies by 37.1% during the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after buying an additional 156,142 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in UFP Technologies in the 4th quarter worth $26,395,000. Raymond James Financial Inc. acquired a new position in shares of UFP Technologies during the fourth quarter valued at about $16,808,000. Price T Rowe Associates Inc. MD raised its holdings in UFP Technologies by 55.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock valued at $43,625,000 after acquiring an additional 63,899 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings 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 worth $33,338,000 after purchasing an additional 44,292 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at UFP Technologies

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now owns 1,785 shares in the company, valued at $407,711.85. This represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UFPT. Raymond James started coverage on UFP Technologies in a research report on Friday, March 28th. They issued a "market perform" rating on the stock. StockNews.com downgraded UFP Technologies from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd.

UFP Technologies Trading Down 1.8 %

Shares of UFPT stock traded down $3.81 on Friday, reaching $208.52. 32,310 shares of the stock were exchanged, compared to its average volume of 80,246. The stock has a 50 day moving average price of $210.38 and a 200 day moving average price of $254.37. The stock has a market cap of $1.60 billion, a PE ratio of 29.74 and a beta of 1.08. 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 0.64, a current ratio of 2.57 and a quick ratio of 1.43.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The business had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

UFP Technologies 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.