Assenagon Asset Management S.A. Reduces Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Assenagon Asset Management S.A. lowered its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 89.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,796 shares of the industrial products company's stock after selling 41,096 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of UFP Technologies worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UFPT. Macquarie Group Ltd. acquired a new position in shares of UFP Technologies during the 4th quarter worth $34,000. Point72 Asset Management L.P. acquired a new position in shares of UFP Technologies during the 4th quarter worth $43,000. Citigroup Inc. grew its stake in shares of UFP Technologies by 121.3% during the 4th quarter. Citigroup Inc. now owns 394 shares of the industrial products company's stock worth $46,000 after purchasing an additional 216 shares during the period. Ronald Blue Trust Inc. acquired a new position in shares of UFP Technologies during the 3rd quarter worth $48,000. Finally, Captrust Financial Advisors grew its stake in shares of UFP Technologies by 3,322.2% during the 2nd quarter. Captrust Financial Advisors now owns 616 shares of the industrial products company's stock worth $49,000 after purchasing an additional 598 shares during the period. Hedge funds and other institutional investors own 87.28% of the company's stock.

Insider Activity

In related news, SVP Christopher P. Litterio sold 2,000 shares of UFP Technologies stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $208.65, for a total transaction of $417,300.00. Following the transaction, the senior vice president now directly owns 14,334 shares of the company's stock, valued at $2,990,789.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Steve Cardin sold 311 shares of UFP Technologies stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total value of $61,111.50. Following the transaction, the vice president now owns 5,643 shares of the company's stock, valued at approximately $1,108,849.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher P. Litterio sold 2,000 shares of UFP Technologies stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $208.65, for a total value of $417,300.00. Following the completion of the transaction, the senior vice president now directly owns 14,334 shares in the company, valued at approximately $2,990,789.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,125 shares of company stock valued at $6,511,420. Company insiders own 7.80% of the company's stock.

UFP Technologies Stock Up 0.5 %

Shares of UFPT stock traded up $1.15 during mid-day trading on Friday, reaching $251.35. 55,741 shares of the company were exchanged, compared to its average volume of 76,659. UFP Technologies, Inc. has a fifty-two week low of $123.68 and a fifty-two week high of $257.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 2.48. The company has a market capitalization of $1.92 billion, a P/E ratio of 42.97 and a beta of 0.83. The business's 50 day simple moving average is $206.77 and its 200 day simple moving average is $178.02.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.41. The firm had revenue of $101.50 million for the quarter, compared to analysts' expectations of $94.80 million. UFP Technologies had a return on equity of 25.48% and a net margin of 11.23%. Research analysts predict that UFP Technologies, Inc. will post 6.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

UFPT has been the topic of several recent research reports. StockNews.com upgraded shares of UFP Technologies from a "sell" rating to a "hold" rating in a research report on Thursday, February 22nd. CJS Securities initiated coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They issued an "outperform" rating and a $255.00 price objective on the stock. Finally, KeyCorp started coverage on shares of UFP Technologies in a research report on Tuesday, February 6th. They issued a "sector weight" rating on the 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.