Fmr LLC Sells 111,235 Shares of UFP Technologies, Inc. (UFPT)

Fmr LLC trimmed its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 47.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,444 shares of the industrial products company’s stock after selling 111,235 shares during the quarter. Fmr LLC owned 1.70% of UFP Technologies worth $3,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of UFP Technologies by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 246,654 shares of the industrial products company’s stock valued at $7,610,000 after purchasing an additional 24,376 shares in the last quarter. Acuitas Investments LLC raised its stake in shares of UFP Technologies by 227.0% in the second quarter. Acuitas Investments LLC now owns 78,477 shares of the industrial products company’s stock valued at $2,421,000 after purchasing an additional 54,480 shares in the last quarter. BlackRock Inc. raised its stake in shares of UFP Technologies by 10.0% in the second quarter. BlackRock Inc. now owns 340,836 shares of the industrial products company’s stock valued at $10,515,000 after purchasing an additional 30,967 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of UFP Technologies by 12.1% in the second quarter. Argent Capital Management LLC now owns 79,742 shares of the industrial products company’s stock valued at $2,460,000 after purchasing an additional 8,615 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of UFP Technologies by 19.2% in the second quarter. Bank of New York Mellon Corp now owns 60,195 shares of the industrial products company’s stock valued at $1,857,000 after purchasing an additional 9,696 shares in the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.

In other UFP Technologies news, insider R Jeffrey Bailly sold 20,941 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $35.50, for a total value of $743,405.50. Following the sale, the insider now directly owns 535,321 shares in the company, valued at $19,003,895.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W David Smith sold 7,286 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $34.58, for a total value of $251,949.88. Following the completion of the sale, the vice president now owns 19,837 shares in the company, valued at $685,963.46. The disclosure for this sale can be found here. Insiders sold 64,619 shares of company stock worth $2,296,779 over the last quarter. Company insiders own 12.30% of the company’s stock.

UFPT has been the subject of a number of recent research reports. BidaskClub upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 3rd. Taglich Brothers restated a “buy” rating on shares of UFP Technologies in a research note on Wednesday, August 29th. ValuEngine upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Finally, Zacks Investment Research upgraded UFP Technologies from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Saturday, September 1st.

Shares of NASDAQ:UFPT opened at $33.52 on Friday. UFP Technologies, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $39.98. The firm has a market capitalization of $270.46 million, a price-to-earnings ratio of 26.82 and a beta of 0.01. The company has a current ratio of 2.83, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%. The firm had revenue of $49.02 million for the quarter, compared to analysts’ expectations of $49.50 million. As a group, research analysts predict that UFP Technologies, Inc. will post 2.12 EPS for the current fiscal year.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

Recommended Story: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding UFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Technologies, Inc. (NASDAQ:UFPT).

Institutional Ownership by Quarter for UFP Technologies (NASDAQ:UFPT)

Receive News & Ratings for UFP Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply