Thrivent Financial for Lutherans Buys 223,121 Shares of UFP Technologies, Inc. $UFPT

Thrivent Financial for Lutherans increased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 892.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 248,125 shares of the industrial products company’s stock after purchasing an additional 223,121 shares during the period. Thrivent Financial for Lutherans owned approximately 3.22% of UFP Technologies worth $55,091,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of UFPT. Congress Asset Management Co. grew its position in UFP Technologies by 32.4% in the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock valued at $97,942,000 after acquiring an additional 107,908 shares during the last quarter. Geneva Capital Management LLC grew its position in UFP Technologies by 88.6% in the third quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company’s stock valued at $31,636,000 after acquiring an additional 74,461 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in UFP Technologies by 60.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock valued at $37,115,000 after acquiring an additional 62,472 shares during the last quarter. Millennium Management LLC grew its position in UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 51,741 shares during the last quarter. Finally, UBS Group AG grew its position in UFP Technologies by 41.8% in the third quarter. UBS Group AG now owns 154,688 shares of the industrial products company’s stock valued at $30,876,000 after acquiring an additional 45,581 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, UFP Technologies presently has an average rating of “Hold” and a consensus target price of $289.00.

UFP Technologies Stock Performance

UFP Technologies stock opened at $213.95 on Friday. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $274.93. The company has a quick ratio of 1.69, a current ratio of 2.91 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $201.74 and its two-hundred day moving average price is $222.21. The stock has a market cap of $1.66 billion, a PE ratio of 24.28 and a beta of 1.08.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.30. The firm had revenue of $154.20 million for the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. As a group, analysts expect that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Buying and Selling at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total transaction of $634,977.44. Following the sale, the director directly owned 855 shares in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

UFP Technologies Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.