Principal Financial Group Inc. Has $10.11 Million Holdings in UFP Technologies, Inc. $UFPT

Principal Financial Group Inc. raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 5.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 52,206 shares of the industrial products company’s stock after purchasing an additional 2,750 shares during the quarter. Principal Financial Group Inc.’s holdings in UFP Technologies were worth $10,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in shares of UFP Technologies by 5.6% during the 1st quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company’s stock worth $150,488,000 after acquiring an additional 41,286 shares during the period. Vanguard Group Inc. raised its stake in UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock valued at $118,470,000 after acquiring an additional 5,957 shares during the period. Boston Trust Walden Corp lifted its holdings in UFP Technologies by 36.3% during the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock valued at $61,385,000 after purchasing an additional 84,396 shares during the last quarter. State Street Corp lifted its holdings in UFP Technologies by 0.3% during the 4th quarter. State Street Corp now owns 289,775 shares of the industrial products company’s stock valued at $64,339,000 after purchasing an additional 961 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in UFP Technologies by 892.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock valued at $55,091,000 after purchasing an additional 223,121 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UFP Technologies news, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director directly owned 5,476 shares of the company’s stock, valued at $1,310,352.04. This represents a 17.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the transaction, the director owned 855 shares in the company, valued at $189,562.05. The trade was a 77.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.59% of the company’s stock.

UFP Technologies Price Performance

UFP Technologies stock opened at $237.20 on Friday. UFP Technologies, Inc. has a 12 month low of $173.86 and a 12 month high of $279.49. The stock’s 50 day moving average is $238.73 and its 200-day moving average is $228.32. 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 has a market capitalization of $1.84 billion, a price-to-earnings ratio of 26.92 and a beta of 1.07.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.30. The company had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.47 earnings per share. Equities research analysts expect that UFP Technologies, Inc. will post 10.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on UFPT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. Wall Street Zen upgraded shares of 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 given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies 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.