Renaissance Technologies LLC Has $20.61 Million Stake in UFP Technologies, Inc. $UFPT

Renaissance Technologies LLC lowered its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,472 shares of the industrial products company’s stock after selling 34,487 shares during the period. Renaissance Technologies LLC owned 1.38% of UFP Technologies worth $20,613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UFPT. Wasatch Advisors LP increased its holdings in UFP Technologies by 5.6% during the 1st quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company’s stock valued at $150,488,000 after purchasing an additional 41,286 shares in the last quarter. Vanguard Group Inc. raised its position in UFP Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock valued at $118,470,000 after purchasing an additional 5,957 shares during the last quarter. Boston Trust Walden Corp boosted its stake in UFP Technologies by 36.3% in the first quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock worth $61,385,000 after purchasing an additional 84,396 shares in the last quarter. State Street Corp boosted its stake in UFP Technologies by 0.3% in the fourth quarter. State Street Corp now owns 289,775 shares of the industrial products company’s stock worth $64,339,000 after purchasing an additional 961 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of UFP Technologies by 892.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock worth $55,091,000 after purchasing an additional 223,121 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Price Performance

UFPT opened at $255.03 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 stock has a market capitalization of $1.97 billion, a P/E ratio of 28.95 and a beta of 1.07. The company’s 50 day simple moving average is $241.36 and its 200-day simple moving average is $228.31. UFP Technologies, Inc. has a one year low of $173.86 and a one year high of $279.49.

UFP Technologies (NASDAQ:UFPT) last posted 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. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $154.78 million. During the same quarter in the previous year, the company posted $2.47 EPS. UFP Technologies’s revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Insider Buying and Selling at UFP Technologies

In other news, Director Cynthia L. Feldmann sold 1,200 shares of the business’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 completion of the sale, the director owned 5,476 shares in the company, valued at $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel C. Croteau sold 2,864 shares of the company’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 transaction, the director directly owned 855 shares in the company, valued at $189,562.05. This trade represents a 77.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Profile

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.