Massachusetts Financial Services Co. MA Boosts Stock Position in UFP Technologies, Inc. $UFPT

Massachusetts Financial Services Co. MA raised its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 5.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,982 shares of the industrial products company’s stock after purchasing an additional 8,231 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in UFP Technologies were worth $33,928,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of UFP Technologies by 469.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 103,663 shares of the industrial products company’s stock worth $20,687,000 after purchasing an additional 85,457 shares during the period. Ashford Capital Management Inc. purchased a new position in UFP Technologies during the 2nd quarter worth $17,284,000. Millennium Management LLC boosted its holdings in shares of UFP Technologies by 123.1% in the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 51,741 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of UFP Technologies by 19.3% during the second quarter. Boston Trust Walden Corp now owns 255,377 shares of the industrial products company’s stock worth $62,353,000 after acquiring an additional 41,230 shares during the period. Finally, Montrusco Bolton Investments Inc. acquired a new position in shares of UFP Technologies during the second quarter worth about $9,488,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Transactions at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,829 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $227.20, for a total value of $415,548.80. Following the sale, the senior vice president owned 10,756 shares of the company’s stock, valued at $2,443,763.20. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

UFP Technologies Stock Up 0.6%

UFPT opened at $266.65 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.41. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 30.90 and a beta of 1.11. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $289.57. The business’s fifty day moving average is $232.62 and its two-hundred day moving average is $220.45.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Monday, November 3rd. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.17. The business had revenue of $154.56 million during the quarter, compared to the consensus estimate of $149.56 million. UFP Technologies had a return on equity of 20.45% and a net margin of 11.23%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Zacks Research upgraded UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $289.00.

UFP Technologies Company 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.