Zacks Investment Research cut shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a sell rating in a research report report published on Tuesday morning.

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. “

UFP Technologies (UFPT) opened at $28.60 on Tuesday. The firm has a market capitalization of $207.49, a PE ratio of 26.24 and a beta of 0.13. UFP Technologies has a one year low of $23.55 and a one year high of $31.50.

Hedge funds and other institutional investors have recently made changes to their positions in the business. CAPROCK Group Inc. bought a new position in UFP Technologies in the 3rd quarter worth about $243,000. State Street Corp increased its stake in UFP Technologies by 8.1% in the 2nd quarter. State Street Corp now owns 111,586 shares of the industrial products company’s stock worth $3,160,000 after acquiring an additional 8,341 shares during the last quarter. Northern Trust Corp increased its stake in UFP Technologies by 6.7% in the 2nd quarter. Northern Trust Corp now owns 87,559 shares of the industrial products company’s stock worth $2,478,000 after acquiring an additional 5,475 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in UFP Technologies by 19.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 148,830 shares of the industrial products company’s stock worth $4,212,000 after acquiring an additional 24,724 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in UFP Technologies by 64.1% in the 3rd quarter. Bessemer Group Inc. now owns 12,800 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “UFP Technologies (UFPT) Rating Lowered to Sell at Zacks Investment Research” was reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.watchlistnews.com/ufp-technologies-ufpt-rating-lowered-to-sell-at-zacks-investment-research/1865073.html.

About UFP Technologies

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.

Get a free copy of the Zacks research report on UFP Technologies (UFPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for UFP Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies and related companies with MarketBeat.com's FREE daily email newsletter.