Bessemer Group Inc. Sells 58,488 Shares of UFP Technologies, Inc. $UFPT

Bessemer Group Inc. lowered its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 79.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,912 shares of the industrial products company’s stock after selling 58,488 shares during the quarter. Bessemer Group Inc.’s holdings in UFP Technologies were worth $2,887,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of UFP Technologies by 14.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 189,863 shares of the industrial products company’s stock worth $36,832,000 after purchasing an additional 23,728 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of UFP Technologies in the 1st quarter valued at $763,000. Sanctuary Advisors LLC raised its stake in UFP Technologies by 3.3% during the 1st quarter. Sanctuary Advisors LLC now owns 2,287 shares of the industrial products company’s stock worth $443,000 after buying an additional 72 shares during the period. Principal Financial Group Inc. raised its stake in UFP Technologies by 5.6% during the 1st quarter. Principal Financial Group Inc. now owns 52,206 shares of the industrial products company’s stock worth $10,107,000 after buying an additional 2,750 shares during the period. Finally, Diversify Wealth Management LLC lifted its holdings in UFP Technologies by 109.4% during the first quarter. Diversify Wealth Management LLC now owns 9,171 shares of the industrial products company’s stock worth $1,701,000 after acquiring an additional 4,791 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

Insider Activity

In related news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares of the company’s stock, valued at approximately $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 can be accessed through 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 stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director directly owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This trade represents a 17.97% decrease in their position. The SEC filing for this sale provides additional information. 4.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. Wall Street Zen raised UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.00.

UFP Technologies Trading Down 0.7%

Shares of NASDAQ:UFPT opened at $243.94 on Wednesday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 27.69 and a beta of 1.07. UFP Technologies, Inc. has a 12 month low of $173.86 and a 12 month high of $279.49. The company’s fifty day simple moving average is $237.59 and its 200 day simple moving average is $228.05. The company has a quick ratio of 1.69, a current ratio of 2.91 and a debt-to-equity ratio of 0.32.

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