UFP Technologies, Inc. $UFPT Shares Bought by Gibbs Wealth Management

Gibbs Wealth Management raised its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 99.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,965 shares of the industrial products company’s stock after buying an additional 3,476 shares during the quarter. Gibbs Wealth Management owned about 0.09% of UFP Technologies worth $1,348,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in UFP Technologies during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its holdings in UFP Technologies by 1,500.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in UFP Technologies in the 2nd quarter valued at about $49,000. Caitong International Asset Management Co. Ltd acquired a new stake in UFP Technologies in the 3rd quarter valued at about $51,000. Finally, PNC Financial Services Group Inc. lifted its stake in UFP Technologies by 66.2% in 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 in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Daniel C. Croteau sold 2,864 shares of the firm’s 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 owned 855 shares in the company, valued at $189,562.05. This trade represents a 77.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the transaction, the director owned 5,476 shares in the company, valued at $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UFPT. Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, UFP Technologies has a consensus rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Trading Down 0.7%

Shares of UFPT opened at $236.21 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $279.49. The firm has a 50-day moving average price of $238.27 and a 200 day moving average price of $228.25. The firm has a market capitalization of $1.83 billion, a P/E ratio of 26.81 and a beta of 1.07.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. UFP Technologies’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.47 earnings per share. Sell-side analysts forecast that UFP Technologies, Inc. will post 10.23 EPS for the current year.

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.