Northern Trust Corp Has $22.51 Million Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Northern Trust Corp lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,064 shares of the industrial products company's stock after buying an additional 6,873 shares during the quarter. Northern Trust Corp owned about 1.20% of UFP Technologies worth $22,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UFPT. Principal Financial Group Inc. lifted its stake in shares of UFP Technologies by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock valued at $9,562,000 after acquiring an additional 1,444 shares during the period. Assenagon Asset Management S.A. lifted its position in UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company's stock valued at $9,610,000 after purchasing an additional 30,372 shares during the period. Raymond James Financial Inc. bought a new position in shares of UFP Technologies in the 4th quarter valued at about $16,808,000. Mesirow Financial Investment Management Inc. boosted its stake in shares of UFP Technologies by 102.3% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company's stock valued at $775,000 after purchasing an additional 1,603 shares during the last quarter. Finally, Amundi grew its position in shares of UFP Technologies by 197.1% during the 4th quarter. Amundi now owns 3,812 shares of the industrial products company's stock worth $957,000 after buying an additional 2,529 shares during the period. Institutional investors and hedge funds own 87.28% of the company's stock.

Insiders Place Their Bets

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the transaction, the senior vice president now directly owns 12,585 shares in the company, valued at approximately $2,770,210.20. The trade was a 10.48% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.17% of the company's stock.

UFP Technologies Trading Up 4.0%

Shares of UFP Technologies stock traded up $9.63 during trading on Friday, hitting $253.30. 87,913 shares of the company were exchanged, compared to its average volume of 84,344. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The firm has a market capitalization of $1.95 billion, a P/E ratio of 36.13 and a beta of 1.10. The firm's fifty day moving average price is $210.95 and its 200 day moving average price is $249.99. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.42. The business had revenue of $148.15 million for the quarter, compared to analyst estimates of $139.93 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UFPT. StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a report on Thursday, January 23rd. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Raymond James assumed coverage on UFP Technologies in a research report on Friday, March 28th. They issued a "market perform" rating on the stock.

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.