Legal & General Group Plc Buys New Position in UFP Technologies, Inc. $UFPT

Legal & General Group Plc bought a new stake in UFP Technologies, Inc. (NASDAQ:UFPT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 18,022 shares of the industrial products company’s stock, valued at approximately $4,778,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of UFPT. BlackRock Inc. acquired a new stake in shares of UFP Technologies during the second quarter worth about $302,622,000. Wasatch Advisors LP increased its stake 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 worth $150,488,000 after buying an additional 41,286 shares during the period. Vanguard Group Inc. increased its stake in UFP Technologies by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 533,578 shares of the industrial products company’s stock worth $118,470,000 after buying an additional 5,957 shares during the period. Boston Trust Walden Corp lifted its holdings in UFP Technologies by 36.3% during the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock worth $61,385,000 after buying an additional 84,396 shares in the last quarter. Finally, State Street Corp lifted its holdings in UFP Technologies by 0.3% during the 4th quarter. State Street Corp now owns 289,775 shares of the industrial products company’s stock worth $64,339,000 after buying an additional 961 shares in the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UFPT has been the topic of a number of recent research reports. Weiss Ratings raised UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded UFP Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, UFP Technologies presently has a consensus rating of “Hold”.

Insider Activity

In other UFP Technologies news, Director Marc D. Kozin sold 7,000 shares of UFP Technologies stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total transaction of $2,131,500.00. Following the completion of the sale, the director directly owned 21,112 shares of the company’s stock, valued at $6,428,604. The trade was a 24.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cynthia L. Feldmann sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $324.26, for a total value of $324,260.00. Following the transaction, the director directly owned 4,476 shares of the company’s stock, valued at approximately $1,451,387.76. This represents a 18.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 27,119 shares of company stock valued at $8,460,232 in the last 90 days. Company insiders own 4.59% of the company’s stock.

UFP Technologies Stock Down 2.0%

UFPT stock opened at $286.52 on Friday. The company’s 50 day moving average price is $279.38 and its 200 day moving average price is $237.02. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 30.88 and a beta of 1.08. UFP Technologies, Inc. has a fifty-two week low of $173.86 and a fifty-two week high of $338.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 3.00.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.31 by $0.61. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. The company had revenue of $173.96 million during the quarter, compared to analysts’ expectations of $159.38 million. On average, equities research analysts anticipate that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

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.