7,567 Shares in UFP Technologies, Inc. $UFPT Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new position in UFP Technologies, Inc. (NASDAQ:UFPT) during the 1st quarter, Holdings Channel reports. The institutional investor bought 7,567 shares of the industrial products company’s stock, valued at approximately $1,465,000.

A number of other hedge funds have also recently made changes to their positions in UFPT. Global Retirement Partners LLC purchased a new stake in shares of UFP Technologies in the fourth quarter worth $28,000. Smartleaf Asset Management LLC boosted its position in shares of UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of UFP Technologies during the second quarter worth about $49,000. Caitong International Asset Management Co. Ltd bought a new position in shares of UFP Technologies in the third quarter worth approximately $51,000. Finally, PNC Financial Services Group Inc. raised its stake in UFP Technologies by 66.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 94 shares in the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT opened at $259.80 on Friday. 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 stock has a market cap of $2.01 billion, a PE ratio of 29.49 and a beta of 1.11. The company’s fifty day moving average is $221.08 and its 200 day moving average is $224.59. UFP Technologies, Inc. has a 52 week low of $173.86 and a 52 week high of $274.93.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data 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 firm had revenue of $154.20 million for the quarter, compared to analysts’ expectations of $154.78 million. During the same period last year, the firm earned $2.47 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts anticipate that UFP Technologies, Inc. will post 10.23 earnings per share for the current year.

Wall Street Analyst Weigh In

UFPT has been the subject of a number of research reports. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a research report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $289.00.

Insider Activity at UFP Technologies

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

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.