Swedbank AB Cuts Stock Holdings in UFP Technologies, Inc. $UFPT

Swedbank AB lessened its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 160,005 shares of the industrial products company’s stock after selling 25,000 shares during the period. Swedbank AB’s holdings in UFP Technologies were worth $35,526,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in UFPT. Congress Asset Management Co. raised its stake in shares of UFP Technologies by 32.4% in the 4th quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock valued at $97,942,000 after acquiring an additional 107,908 shares during the period. Geneva Capital Management LLC raised its stake in shares of UFP Technologies by 88.6% in the 3rd quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company’s stock valued at $31,636,000 after acquiring an additional 74,461 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of UFP Technologies by 60.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock valued at $37,115,000 after acquiring an additional 62,472 shares during the period. Millennium Management LLC raised its stake in shares of UFP Technologies by 123.1% in the 1st quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 51,741 shares during the period. Finally, UBS Group AG raised its stake in shares of UFP Technologies by 41.8% in the 3rd quarter. UBS Group AG now owns 154,688 shares of the industrial products company’s stock valued at $30,876,000 after acquiring an additional 45,581 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. 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 investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, UFP Technologies has a consensus rating of “Hold” and an average price target of $289.00.

UFP Technologies Stock Performance

UFP Technologies stock opened at $221.35 on Friday. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $274.93. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 25.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.91 and a quick ratio of 1.52. The firm’s fifty day moving average price is $200.74 and its 200 day moving average price is $221.51.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.30. The company 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 firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. On average, research analysts forecast that UFP Technologies, Inc. will post 9.9 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.