Northwestern Mutual Wealth Management Co. Raises Stock Position in UFP Technologies, Inc. $UFPT

Northwestern Mutual Wealth Management Co. grew its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 286.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,535 shares of the industrial products company’s stock after acquiring an additional 6,329 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in UFP Technologies were worth $1,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Thrivent Financial for Lutherans grew its stake in shares of UFP Technologies by 892.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock worth $55,091,000 after buying an additional 223,121 shares in the last quarter. World Investment Advisors grew its stake in shares of UFP Technologies by 27.1% during the fourth quarter. World Investment Advisors now owns 3,178 shares of the industrial products company’s stock valued at $706,000 after buying an additional 678 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of UFP Technologies by 6.4% during the fourth quarter. Diversify Wealth Management LLC now owns 4,380 shares of the industrial products company’s stock valued at $972,000 after buying an additional 265 shares during the last quarter. Truist Financial Corp grew its stake in shares of UFP Technologies by 2.3% during the fourth quarter. Truist Financial Corp now owns 7,081 shares of the industrial products company’s stock valued at $1,572,000 after buying an additional 161 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its stake in shares of UFP Technologies by 13.1% during the fourth quarter. Benjamin Edwards Inc. now owns 4,316 shares of the industrial products company’s stock valued at $958,000 after buying an additional 499 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction dated 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 sale, the director owned 855 shares in the company, valued at $189,562.05. This trade represents a 77.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

UFP Technologies Trading Down 1.2%

Shares of UFPT opened at $226.37 on Thursday. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $274.93. The company has a 50-day moving average of $204.47 and a 200 day moving average of $223.45. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 25.69 and a beta of 1.08. 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 (NASDAQ:UFPT) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The company had revenue of $154.20 million during the quarter, compared to analyst estimates of $154.78 million. During the same quarter last year, the business posted $2.47 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts expect that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $289.00.

UFP Technologies Company 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.