Cim LLC Cuts Position in UFP Technologies, Inc. $UFPT

Cim LLC trimmed its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 9.2% during the first quarter, Holdings Channel.com reports. The fund owned 1,051 shares of the industrial products company’s stock after selling 106 shares during the period. Cim LLC’s holdings in UFP Technologies were worth $212,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in shares of UFP Technologies by 2.6% during the 1st quarter. Rhumbline Advisers now owns 20,020 shares of the industrial products company’s stock worth $4,038,000 after purchasing an additional 516 shares during the last quarter. Jane Street Group LLC raised its holdings in UFP Technologies by 383.0% in the first quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock valued at $4,761,000 after buying an additional 18,718 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UFP Technologies by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock valued at $2,593,000 after purchasing an additional 1,327 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of UFP Technologies during the first quarter valued at approximately $172,000. Finally, Uniplan Investment Counsel Inc. raised its stake in shares of UFP Technologies by 1.4% during the first quarter. Uniplan Investment Counsel Inc. now owns 23,435 shares of the industrial products company’s stock valued at $4,727,000 after purchasing an additional 318 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their price target on shares of UFP Technologies from $252.00 to $289.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, UFP Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $289.00.

UFP Technologies Price Performance

Shares of UFP Technologies stock opened at $199.32 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $223.21 and its two-hundred day moving average price is $223.00. UFP Technologies, Inc. has a 52 week low of $178.26 and a 52 week high of $366.41. The stock has a market cap of $1.54 billion, a PE ratio of 23.10 and a beta of 1.20.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.25. The firm had revenue of $151.18 million for the quarter, compared to the consensus estimate of $151.55 million. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The business’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 EPS.

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.