Renaissance Group LLC Purchases 13,274 Shares of UFP Technologies, Inc. $UFPT

Renaissance Group LLC increased its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 46.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,839 shares of the industrial products company’s stock after acquiring an additional 13,274 shares during the period. Renaissance Group LLC owned about 0.54% of UFP Technologies worth $8,351,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

UFPT has been the topic of several analyst reports. Zacks Research upgraded shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Wall Street Zen cut UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, UFP Technologies has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Stock Performance

UFPT opened at $267.34 on Friday. The company has a 50 day simple moving average of $239.46 and a two-hundred day simple moving average of $221.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.41 and a quick ratio of 1.36. The firm has a market cap of $2.06 billion, a P/E ratio of 30.98 and a beta of 1.11. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $277.81.

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.