Principal Financial Group Inc. Boosts Stake in UFP Technologies, Inc. $UFPT

Principal Financial Group Inc. grew its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 7.6% during the third quarter, HoldingsChannel reports. The fund owned 45,205 shares of the industrial products company’s stock after acquiring an additional 3,183 shares during the quarter. Principal Financial Group Inc.’s holdings in UFP Technologies were worth $9,023,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in UFPT. Wasatch Advisors LP boosted its position in UFP Technologies by 1.4% during the second quarter. Wasatch Advisors LP now owns 650,960 shares of the industrial products company’s stock valued at $158,938,000 after purchasing an additional 8,770 shares in the last quarter. Congress Asset Management Co. lifted its position in shares of UFP Technologies by 1.8% during the third quarter. Congress Asset Management Co. now owns 333,214 shares of the industrial products company’s stock valued at $66,510,000 after buying an additional 5,781 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of UFP Technologies by 13.0% in the 2nd quarter. American Century Companies Inc. now owns 325,047 shares of the industrial products company’s stock valued at $79,364,000 after buying an additional 37,459 shares in the last quarter. Geode Capital Management LLC grew its position in shares of UFP Technologies by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 186,090 shares of the industrial products company’s stock worth $45,441,000 after buying an additional 5,917 shares during the last quarter. Finally, Swedbank AB grew its position in shares of UFP Technologies by 15.6% in the 3rd quarter. Swedbank AB now owns 185,005 shares of the industrial products company’s stock worth $36,927,000 after buying an additional 25,005 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Trading Down 6.1%

Shares of UFP Technologies stock opened at $247.32 on Friday. The firm’s 50 day simple moving average is $242.80 and its two-hundred day simple moving average is $222.29. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 28.66 and a beta of 1.11. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $275.81. The company has a current ratio of 2.41, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Zacks Research raised shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, UFP Technologies has an average rating of “Hold” and a consensus 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.