Legato Capital Management LLC Cuts Stock Position in UFP Technologies, Inc. $UFPT

Legato Capital Management LLC lowered its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,261 shares of the industrial products company’s stock after selling 2,524 shares during the period. UFP Technologies makes up about 0.7% of Legato Capital Management LLC’s portfolio, making the stock its 15th largest position. Legato Capital Management LLC owned approximately 0.46% of UFP Technologies worth $7,829,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of UFPT. Global Retirement Partners LLC purchased a new stake in UFP Technologies during the 4th quarter worth approximately $28,000. Canada Pension Plan Investment Board purchased a new stake in UFP Technologies during the 2nd quarter worth approximately $49,000. Caitong International Asset Management Co. Ltd purchased a new stake in UFP Technologies during the 3rd quarter worth approximately $51,000. PNC Financial Services Group Inc. grew its position in UFP Technologies by 66.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 94 shares during the last quarter. Finally, State of Wyoming grew its position in UFP Technologies by 22.7% during the 3rd quarter. State of Wyoming now owns 341 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Up 1.3%

NASDAQ:UFPT opened at $228.97 on Friday. The company has a market cap of $1.77 billion, a PE ratio of 25.99 and a beta of 1.08. UFP Technologies, Inc. has a twelve month low of $173.86 and a twelve month high of $274.93. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $203.01 and its two-hundred day moving average is $223.25.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $154.78 million. During the same quarter in the previous year, the firm earned $2.47 EPS. UFP Technologies’s revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on 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 directly owned 855 shares in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $289.00.

About UFP Technologies

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.