Wasatch Advisors LP Trims Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Wasatch Advisors LP reduced its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 303,435 shares of the industrial products company’s stock after selling 9,779 shares during the quarter. Wasatch Advisors LP owned about 3.97% of UFP Technologies worth $76,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. lifted its position in UFP Technologies by 98.6% during the fourth quarter. Federated Hermes Inc. now owns 147 shares of the industrial products company’s stock worth $25,000 after buying an additional 73 shares during the period. Principal Securities Inc. acquired a new stake in UFP Technologies during the fourth quarter worth about $28,000. AJOVista LLC acquired a new stake in UFP Technologies during the fourth quarter worth about $76,000. Peterson Wealth Services acquired a new stake in UFP Technologies during the fourth quarter worth about $204,000. Finally, Mutual of America Capital Management LLC acquired a new stake in UFP Technologies during the fourth quarter worth about $212,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UFPT. Lake Street Capital increased their target price on UFP Technologies from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. CJS Securities began coverage on UFP Technologies in a research note on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price objective for the company.

UFP Technologies Stock Performance

UFP Technologies stock traded down $5.43 during mid-day trading on Tuesday, hitting $283.66. 79,678 shares of the company’s stock traded hands, compared to its average volume of 59,648. The firm has a 50 day moving average price of $253.39 and a 200 day moving average price of $216.79. The company has a quick ratio of 1.46, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.18 billion, a PE ratio of 45.60 and a beta of 0.95. UFP Technologies, Inc. has a one year low of $127.29 and a one year high of $294.43.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.66 earnings per share for the quarter. The firm had revenue of $105.01 million for the quarter. UFP Technologies had a return on equity of 17.40% and a net margin of 11.75%.

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.