Principal Financial Group Inc. Has $10.11 Million Stock Position in UFP Technologies, Inc. $UFPT

Principal Financial Group Inc. increased its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,206 shares of the industrial products company’s stock after buying an additional 2,750 shares during the quarter. Principal Financial Group Inc. owned 0.68% of UFP Technologies worth $10,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in shares of UFP Technologies by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 1,466 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 46 shares during the period. Guidance Capital Inc. lifted its position in UFP Technologies by 2.8% in the 4th quarter. Guidance Capital Inc. now owns 2,337 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 63 shares in the last quarter. Chatham Capital Group Inc. boosted its stake in UFP Technologies by 0.5% in the 4th quarter. Chatham Capital Group Inc. now owns 17,744 shares of the industrial products company’s stock worth $3,940,000 after purchasing an additional 85 shares during the period. Carnegie Investment Counsel boosted its stake in UFP Technologies by 4.8% in the 1st quarter. Carnegie Investment Counsel now owns 2,064 shares of the industrial products company’s stock worth $400,000 after purchasing an additional 94 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in UFP Technologies by 66.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 94 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

Insider Activity at UFP Technologies

In other news, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Croteau sold 2,864 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the transaction, the director directly owned 855 shares of the company’s stock, valued at $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.59% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UFPT. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. Wall Street Zen raised UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Trading Up 0.4%

UFP Technologies stock opened at $237.20 on Friday. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 26.92 and a beta of 1.07. The firm has a 50-day moving average of $238.73 and a 200-day moving average of $228.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. UFP Technologies, Inc. has a one year low of $173.86 and a one year high of $279.49.

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. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The business had revenue of $154.20 million for the quarter, compared to the consensus estimate of $154.78 million. During the same quarter in the previous year, the business earned $2.47 earnings per share. UFP Technologies’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

About UFP Technologies

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.