UFP Technologies, Inc. $UFPT Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC trimmed its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,261 shares of the industrial products company’s stock after selling 2,524 shares during the period. UFP Technologies makes up about 0.7% of Legato Capital Management LLC’s portfolio, making the stock its 15th biggest position. Legato Capital Management LLC’s holdings in UFP Technologies were worth $7,829,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in shares of UFP Technologies by 892.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock valued at $55,091,000 after purchasing an additional 223,121 shares during the period. Congress Asset Management Co. lifted 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 purchasing an additional 107,908 shares during the period. Geneva Capital Management LLC lifted 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 purchasing an additional 74,461 shares during the period. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 62,472 shares during the period. Finally, Millennium Management LLC lifted 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 purchasing an additional 51,741 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $289.00.

UFP Technologies Stock Performance

UFPT opened at $228.97 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. The firm has a fifty day moving average price of $203.01 and a 200 day moving average price of $223.25. UFP Technologies, Inc. has a 1 year low of $173.86 and a 1 year high of $274.93. The stock has a market cap of $1.77 billion, a P/E ratio of 25.99 and a beta of 1.08.

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, beating the consensus estimate of $2.18 by $0.30. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.47 EPS. Equities research analysts anticipate that UFP Technologies, Inc. will post 10.23 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Daniel C. Croteau sold 2,864 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the completion of the sale, the director owned 855 shares of the company’s stock, valued at approximately $189,562.05. The trade was a 77.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% 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.