Impax Asset Management Group plc Decreases Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Impax Asset Management Group plc decreased its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 63.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,000 shares of the industrial products company's stock after selling 21,000 shares during the period. Impax Asset Management Group plc owned 0.16% of UFP Technologies worth $2,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in UFPT. New York State Teachers Retirement System raised its position in UFP Technologies by 9.1% during the 4th quarter. New York State Teachers Retirement System now owns 2,400 shares of the industrial products company's stock worth $413,000 after buying an additional 200 shares during the last quarter. Raymond James & Associates boosted its position in shares of UFP Technologies by 8.8% in the 4th quarter. Raymond James & Associates now owns 22,001 shares of the industrial products company's stock worth $3,785,000 after buying an additional 1,778 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of UFP Technologies by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 507,531 shares of the industrial products company's stock worth $81,941,000 after purchasing an additional 12,420 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in UFP Technologies by 112.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 2,340 shares of the industrial products company's stock worth $378,000 after buying an additional 1,240 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of UFP Technologies during the third quarter valued at approximately $344,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

UFP Technologies Price Performance

Shares of UFPT stock traded down $9.07 during mid-day trading on Thursday, hitting $227.86. 72,318 shares of the stock traded hands, compared to its average volume of 64,633. UFP Technologies, Inc. has a twelve month low of $127.29 and a twelve month 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's 50-day simple moving average is $211.29 and its 200-day simple moving average is $179.75. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 40.50 and a beta of 0.83.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.12 by $0.41. UFP Technologies had a return on equity of 25.48% and a net margin of 11.23%. The business had revenue of $101.50 million during the quarter, compared to the consensus estimate of $94.80 million. As a group, equities research analysts expect that UFP Technologies, Inc. will post 6.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. KeyCorp began coverage on UFP Technologies in a report on Tuesday, February 6th. They issued a "sector weight" rating for the company. CJS Securities started coverage on shares of UFP Technologies in a report on Wednesday, March 20th. They issued an "outperform" rating and a $255.00 price target for the company. Finally, StockNews.com upgraded UFP Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, February 22nd.

Insider Buying and Selling at UFP Technologies

In other news, CEO R Jeffrey Bailly sold 27,090 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $209.48, for a total value of $5,674,813.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO R Jeffrey Bailly sold 27,090 shares of UFP Technologies stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $209.48, for a total transaction of $5,674,813.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia L. Feldmann sold 1,724 shares of the company's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $207.77, for a total value of $358,195.48. Following the completion of the transaction, the director now directly owns 4,466 shares in the company, valued at $927,900.82. The disclosure for this sale can be found here. Insiders have sold a total of 31,125 shares of company stock valued at $6,511,420 in the last 90 days. 7.80% of the stock is currently owned by corporate insiders.

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.