Gibbs Wealth Management Raises Stock Holdings in UFP Technologies, Inc. $UFPT

Gibbs Wealth Management boosted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 99.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,965 shares of the industrial products company’s stock after buying an additional 3,476 shares during the quarter. Gibbs Wealth Management’s holdings in UFP Technologies were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of UFP Technologies in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its position in shares of UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 165 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of UFP Technologies during the 2nd quarter worth approximately $49,000. Caitong International Asset Management Co. Ltd acquired a new stake in UFP Technologies in the 3rd quarter valued at approximately $51,000. Finally, PNC Financial Services Group Inc. increased its holdings in UFP Technologies by 66.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 94 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Trading Down 0.7%

Shares of UFPT stock opened at $236.21 on Friday. UFP Technologies, Inc. has a fifty-two week low of $173.86 and a fifty-two week high of $279.49. The company has a 50 day moving average price of $238.27 and a 200 day moving average price of $228.25. The stock has a market capitalization of $1.83 billion, a P/E ratio of 26.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $239.29, for a total transaction of $287,148.00. Following the sale, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This represents a 17.97% 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 Daniel C. Croteau sold 2,864 shares of the 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 in the company, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is currently owned by corporate insiders.

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.