UFP Technologies, Inc. (NASDAQ:UFPT) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC boosted its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 8.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,128 shares of the industrial products company’s stock after acquiring an additional 157 shares during the period. Portside Wealth Group LLC’s holdings in UFP Technologies were worth $429,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in 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 buying an additional 1,444 shares during the period. Cetera Investment Advisers acquired a new stake in UFP Technologies during the fourth quarter valued at $340,000. Northern Trust Corp grew its position in UFP Technologies by 8.1% during the fourth quarter. Northern Trust Corp now owns 92,064 shares of the industrial products company’s stock valued at $22,511,000 after buying an additional 6,873 shares during the period. Raymond James Financial Inc. acquired a new stake in UFP Technologies during the fourth quarter valued at $16,808,000. Finally, Mesirow Financial Investment Management Inc. grew its position in UFP Technologies by 102.3% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company’s stock valued at $775,000 after buying an additional 1,603 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Stock Up 0.2%

Shares of NASDAQ UFPT opened at $238.68 on Wednesday. The company’s 50-day simple moving average is $221.73 and its 200-day simple moving average is $240.85. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week high of $366.41. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 34.05 and a beta of 1.12. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

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

Analyst Ratings Changes

Several research firms recently commented on UFPT. Raymond James began coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a “market perform” rating on the stock. Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the company a “buy” rating in a research report on Wednesday, May 7th.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the sale, the senior vice president now owns 12,585 shares in the company, valued at $2,770,210.20. This trade represents a 10.48% 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. Company insiders own 4.40% of the company’s 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.