Zacks Investment Research downgraded shares of UFP Technologies, Inc. (NASDAQ:UFPT) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Shares of UFP Technologies (NASDAQ UFPT) opened at $27.05 on Tuesday. The stock has a market cap of $197.68, a P/E ratio of 24.95 and a beta of 0.18. UFP Technologies has a 52-week low of $22.95 and a 52-week high of $31.50.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.13). The company had revenue of $35.68 million during the quarter, compared to analysts’ expectations of $38.70 million. UFP Technologies had a return on equity of 6.83% and a net margin of 5.43%. sell-side analysts anticipate that UFP Technologies will post 1.12 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently modified their holdings of UFPT. FMR LLC raised its position in UFP Technologies by 105.5% during the second quarter. FMR LLC now owns 205,504 shares of the industrial products company’s stock valued at $5,816,000 after acquiring an additional 105,504 shares in the last quarter. Nationwide Fund Advisors raised its position in UFP Technologies by 952.3% during the second quarter. Nationwide Fund Advisors now owns 40,775 shares of the industrial products company’s stock valued at $1,154,000 after acquiring an additional 36,900 shares in the last quarter. Quantum Capital Management bought a new position in UFP Technologies during the third quarter valued at approximately $983,000. OxFORD Asset Management LLP raised its position in UFP Technologies by 166.2% during the second quarter. OxFORD Asset Management LLP now owns 47,601 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 29,716 shares in the last quarter. Finally, Anchor Capital Advisors LLC bought a new position in UFP Technologies during the second quarter valued at approximately $758,000. 67.62% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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