UFP Technologies, Inc. $UFPT Shares Acquired by Renaissance Group LLC

Renaissance Group LLC increased its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 31.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,565 shares of the industrial products company’s stock after purchasing an additional 6,820 shares during the quarter. Renaissance Group LLC owned 0.37% of UFP Technologies worth $6,974,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of UFPT. Congress Asset Management Co. grew its stake in UFP Technologies by 5.8% during the second quarter. Congress Asset Management Co. now owns 327,433 shares of the industrial products company’s stock worth $79,946,000 after buying an additional 18,038 shares during the period. American Century Companies Inc. lifted its holdings in shares of UFP Technologies by 1,858.2% during the 1st quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company’s stock valued at $58,010,000 after acquiring an additional 272,902 shares in the last quarter. Boston Trust Walden Corp boosted its position in UFP Technologies by 19.3% during the 2nd quarter. Boston Trust Walden Corp now owns 255,377 shares of the industrial products company’s stock worth $62,353,000 after purchasing an additional 41,230 shares during the period. Geode Capital Management LLC increased its holdings in UFP Technologies by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 186,090 shares of the industrial products company’s stock valued at $45,441,000 after purchasing an additional 5,917 shares in the last quarter. Finally, Invesco Ltd. raised its position in UFP Technologies by 1.9% in the first quarter. Invesco Ltd. now owns 178,174 shares of the industrial products company’s stock valued at $35,939,000 after purchasing an additional 3,313 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on UFPT. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a research note on Wednesday, October 8th. Lake Street Capital upped their price target on UFP Technologies from $252.00 to $289.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.00.

UFP Technologies Stock Down 1.9%

Shares of NASDAQ UFPT opened at $218.58 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77. UFP Technologies, Inc. has a 1 year low of $178.26 and a 1 year high of $327.68. The stock’s 50-day simple moving average is $204.58 and its 200-day simple moving average is $221.86. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 25.33 and a beta of 1.16.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Thursday, November 9th. The industrial products company reported $1.37 earnings per share for the quarter. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The firm had revenue of $96.97 million during the quarter.

Insider Activity

In related news, SVP Christopher P. Litterio sold 1,829 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $227.20, for a total value of $415,548.80. Following the sale, the senior vice president directly owned 10,756 shares of the company’s stock, valued at $2,443,763.20. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

UFP Technologies Company 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.