UFP Technologies, Inc. $UFPT Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 14.3% in the first quarter, Holdings Channel reports. The institutional investor owned 189,863 shares of the industrial products company’s stock after acquiring an additional 23,728 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UFP Technologies were worth $36,832,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of UFP Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock worth $873,000 after purchasing an additional 190 shares in the last quarter. Millennium Management LLC boosted its position in UFP Technologies by 123.1% during the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after acquiring an additional 51,741 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of UFP Technologies in the first quarter valued at approximately $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in UFP Technologies by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock valued at $2,593,000 after buying an additional 1,327 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in UFP Technologies by 383.0% in the 1st quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock valued at $4,761,000 after buying an additional 18,718 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UFPT has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. Wall Street Zen raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note 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 company. According to data from MarketBeat, UFP Technologies presently has an average rating of “Hold” and a consensus target price of $289.00.

UFP Technologies Stock Performance

Shares of NASDAQ UFPT opened at $242.05 on Monday. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.87 billion, a PE ratio of 27.47 and a beta of 1.07. UFP Technologies, Inc. has a twelve month low of $173.86 and a twelve month high of $279.49. The stock has a fifty day simple moving average of $236.65 and a 200-day simple moving average of $227.82.

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

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 2,864 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total transaction of $634,977.44. Following the sale, the director owned 855 shares of the company’s stock, valued at approximately $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the completion of the sale, the director owned 5,476 shares in the company, valued at approximately $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.59% of the company’s stock.

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.