Ballast Asset Management LP Has $1.47 Million Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Ballast Asset Management LP cut its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 41.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,012 shares of the industrial products company’s stock after selling 4,310 shares during the period. Ballast Asset Management LP owned 0.08% of UFP Technologies worth $1,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in UFP Technologies by 48.1% in the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company’s stock valued at $33,338,000 after acquiring an additional 44,292 shares during the period. Level Four Advisory Services LLC acquired a new stake in UFP Technologies in the 4th quarter valued at $225,000. Riverchase Wealth Management LLC bought a new stake in UFP Technologies during the 4th quarter valued at $281,000. JPMorgan Chase & Co. raised its holdings in UFP Technologies by 4.8% during the fourth quarter. JPMorgan Chase & Co. now owns 11,573 shares of the industrial products company’s stock worth $2,830,000 after buying an additional 525 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in shares of UFP Technologies by 37.4% in the fourth quarter. Zions Bancorporation N.A. now owns 4,471 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 1,217 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

Insider Activity

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 transaction, the director now owns 1,785 shares of the company’s stock, valued at $407,711.85. This represents a 79.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.17% of the company’s stock.

Wall Street Analyst Weigh In

UFPT has been the subject of a number of recent research reports. StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Raymond James started coverage on UFP Technologies in a research note on Friday. They set a “market perform” rating on the stock.

UFP Technologies Stock Performance

Shares of UFP Technologies stock opened at $201.71 on Tuesday. The business’s fifty day simple moving average is $240.68 and its 200 day simple moving average is $272.76. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 12 month low of $193.00 and a 12 month high of $366.41. The firm has a market capitalization of $1.55 billion, a P/E ratio of 28.77 and a beta of 1.15.

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

UFP Technologies Company Profile

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.