UFP Technologies (UFPT) Rating Lowered to Sell at Zacks Investment Research

UFP Technologies (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

Shares of UFP Technologies (NASDAQ:UFPT) traded down $0.10 during trading hours on Tuesday, hitting $28.45. The stock had a trading volume of 13,500 shares, compared to its average volume of 22,408. UFP Technologies has a 12-month low of $23.55 and a 12-month high of $31.50. The company has a market cap of $207.49, a price-to-earnings ratio of 26.10 and a beta of 0.13.

Several large investors have recently made changes to their positions in UFPT. Bank of New York Mellon Corp raised its position in shares of UFP Technologies by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,609 shares of the industrial products company’s stock worth $1,234,000 after acquiring an additional 2,025 shares in the last quarter. Teachers Advisors LLC increased its position in UFP Technologies by 2.1% during the 2nd quarter. Teachers Advisors LLC now owns 11,190 shares of the industrial products company’s stock valued at $317,000 after buying an additional 226 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in UFP Technologies by 12.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 18,999 shares of the industrial products company’s stock valued at $538,000 after buying an additional 2,170 shares in the last quarter. Nationwide Fund Advisors increased its position in UFP Technologies by 952.3% during the 2nd quarter. Nationwide Fund Advisors now owns 40,775 shares of the industrial products company’s stock valued at $1,154,000 after buying an additional 36,900 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in UFP Technologies by 559.1% during the 2nd quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock valued at $187,000 after buying an additional 5,597 shares in the last quarter. 68.41% of the stock is owned by hedge funds and other institutional investors.

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About UFP Technologies

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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