Wells Fargo & Company MN Buys 1,629 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Wells Fargo & Company MN boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,312 shares of the industrial products company's stock after purchasing an additional 1,629 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of UFP Technologies worth $2,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AlphaQuest LLC bought a new position in UFP Technologies in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC purchased a new stake in shares of UFP Technologies in the fourth quarter valued at about $74,000. EverSource Wealth Advisors LLC lifted its position in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 66 shares in the last quarter. KBC Group NV boosted its holdings in UFP Technologies by 37.9% during the fourth quarter. KBC Group NV now owns 375 shares of the industrial products company's stock worth $92,000 after purchasing an additional 103 shares during the last quarter. Finally, Principal Securities Inc. grew its position in UFP Technologies by 110.4% in the 4th quarter. Principal Securities Inc. now owns 444 shares of the industrial products company's stock worth $109,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 87.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on UFPT. Raymond James assumed coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating on the stock. StockNews.com cut UFP Technologies from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.17% of the stock is currently owned by insiders.

UFP Technologies Stock Performance

UFPT traded up $3.21 during midday trading on Thursday, reaching $211.75. The company had a trading volume of 13,131 shares, compared to its average volume of 80,370. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The business has a 50-day moving average price of $210.95 and a two-hundred day moving average price of $255.08. The stock has a market cap of $1.63 billion, a PE ratio of 30.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

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

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.