KLP Kapitalforvaltning AS Acquires Shares of 1,500 UFP Technologies, Inc. (NASDAQ:UFPT)

KLP Kapitalforvaltning AS bought a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,500 shares of the industrial products company’s stock, valued at approximately $367,000.

A number of other institutional investors have also made changes to their positions in the business. AlphaQuest LLC acquired a new stake in UFP Technologies during the 4th quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of UFP Technologies by 97.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 133 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of UFP Technologies during the 4th quarter worth about $74,000. EverSource Wealth Advisors LLC lifted its stake in shares of UFP Technologies by 24.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after buying an additional 66 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of UFP Technologies by 37.9% during the 4th quarter. KBC Group NV now owns 375 shares of the industrial products company’s stock worth $92,000 after buying an additional 103 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on UFPT shares. StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Raymond James assumed coverage on UFP Technologies in a research note on Friday, March 28th. They set a “market perform” rating on the stock.

Insider Transactions at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. This represents a 79.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.17% of the company’s stock.

UFP Technologies Stock Down 3.5 %

UFPT opened at $186.83 on Friday. The stock has a fifty day moving average of $235.04 and a 200-day moving average of $269.61. The company has a market capitalization of $1.43 billion, a P/E ratio of 26.65 and a beta of 1.15. UFP Technologies, Inc. has a fifty-two week low of $181.28 and a fifty-two week high of $366.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.45. The business had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

About UFP Technologies

UFP Technologies, Inc designs and manufactures solutions for medical devices, sterile packaging, and other highly engineered custom products. The company offers protective drapes for robotic surgery, single patient use surfaces, advanced wound care, infection prevention, disposables for surgical and endoscopic procedures, packaging for medical devices, orthopedic implants, biopharma drug manufacturing, and coils for catheters; and molded components for applications in acoustic insulation, interior trim, load floors, sunshades, SUV cargo cover handles, driveshaft damping, engine and manifold covers, quarter panels, and wheel liners.