Russell Investments Group Ltd. Cuts Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Russell Investments Group Ltd. lessened its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 31.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,101 shares of the industrial products company's stock after selling 15,142 shares during the quarter. Russell Investments Group Ltd. owned about 0.43% of UFP Technologies worth $8,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UFPT. FMR LLC grew its stake in UFP Technologies by 54.6% during the third quarter. FMR LLC now owns 1,178 shares of the industrial products company's stock valued at $373,000 after acquiring an additional 416 shares in the last quarter. Stifel Financial Corp grew its holdings in UFP Technologies by 19.6% during the 3rd quarter. Stifel Financial Corp now owns 2,878 shares of the industrial products company's stock valued at $911,000 after buying an additional 471 shares in the last quarter. State Street Corp increased its stake in UFP Technologies by 1.4% in the 3rd quarter. State Street Corp now owns 283,460 shares of the industrial products company's stock worth $89,772,000 after acquiring an additional 4,007 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of UFP Technologies by 32.2% during the 3rd quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company's stock worth $3,668,000 after acquiring an additional 2,822 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of UFP Technologies in the third quarter valued at $219,000. 87.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UFPT has been the subject of several research reports. StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd. Raymond James initiated coverage on UFP Technologies in a research report on Friday, March 28th. They issued a "market perform" rating for the company.

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 dated Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This represents a 79.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.17% of the company's stock.

UFP Technologies Trading Up 2.7 %

Shares of UFPT stock traded up $5.61 during trading hours on Friday, reaching $211.06. 69,414 shares of the stock were exchanged, compared to its average volume of 78,819. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 30.11 and a beta of 1.08. The company's 50-day moving average price is $219.78 and its 200-day moving average price is $260.57.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.45. The firm had revenue of $144.07 million for the quarter, compared to analysts' expectations of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

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.