Bessemer Group Inc. Sells 30,361 Shares of UFP Technologies, Inc. $UFPT

Bessemer Group Inc. decreased its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,400 shares of the industrial products company’s stock after selling 30,361 shares during the period. Bessemer Group Inc.’s holdings in UFP Technologies were worth $16,295,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new position in UFP Technologies in the second quarter valued at about $49,000. Caitong International Asset Management Co. Ltd bought a new position in UFP Technologies in the third quarter valued at about $51,000. State of Wyoming boosted its holdings in UFP Technologies by 22.7% in the third quarter. State of Wyoming now owns 341 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 63 shares during the last quarter. GAMMA Investing LLC boosted its holdings in UFP Technologies by 171.4% in the fourth quarter. GAMMA Investing LLC now owns 361 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 228 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in UFP Technologies in the first quarter valued at about $172,000. Institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

UFP Technologies Trading Down 3.2%

NASDAQ:UFPT opened at $213.95 on Friday. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $274.93. The business’s 50-day moving average price is $201.74 and its two-hundred day moving average price is $222.21. 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 firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 24.28 and a beta of 1.08.

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, beating the consensus estimate of $2.18 by $0.30. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. During the same quarter in the prior year, the firm posted $2.47 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts expect that UFP Technologies, Inc. will post 10.23 earnings per share for the current year.

Insiders Place Their Bets

In other UFP Technologies news, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

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.