Brown Capital Management LLC Sells 2,702 Shares of UFP Technologies, Inc. $UFPT

Brown Capital Management LLC cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,109 shares of the industrial products company’s stock after selling 2,702 shares during the period. UFP Technologies makes up 1.4% of Brown Capital Management LLC’s portfolio, making the stock its 28th biggest position. Brown Capital Management LLC owned about 2.18% of UFP Technologies worth $33,555,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of UFPT. Nisa Investment Advisors LLC boosted its holdings in shares of UFP Technologies by 290.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 121 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in UFP Technologies by 179.0% during the second quarter. PNC Financial Services Group Inc. now owns 173 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 111 shares during the period. Canada Pension Plan Investment Board purchased a new stake in UFP Technologies in the second quarter worth approximately $49,000. State of Wyoming grew its position in UFP Technologies by 22.7% in the 3rd quarter. State of Wyoming now owns 341 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 63 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in UFP Technologies during the 3rd quarter valued at $108,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

UFPT has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a research note on Wednesday, October 8th. Wall Street Zen cut UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Zacks Research upgraded UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $289.00.

Insider Transactions at UFP Technologies

In related news, SVP Christopher P. Litterio sold 1,829 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $227.20, for a total value of $415,548.80. Following the completion of the sale, the senior vice president directly owned 10,756 shares of the company’s stock, valued at approximately $2,443,763.20. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

UFP Technologies Trading Up 1.9%

NASDAQ:UFPT opened at $255.87 on Tuesday. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $289.57. The business has a fifty day moving average price of $236.97 and a 200-day moving average price of $220.73. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 29.65 and a beta of 1.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.41 and a quick ratio of 1.36.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Monday, November 3rd. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.17. The company had revenue of $154.56 million for 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%.UFP Technologies’s revenue for the quarter was up 6.5% compared to the same quarter last year.

About UFP Technologies

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.