Algert Global LLC Acquires 3,661 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Algert Global LLC raised its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 500.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,393 shares of the industrial products company’s stock after purchasing an additional 3,661 shares during the period. Algert Global LLC’s holdings in UFP Technologies were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UFPT. Barclays PLC raised its position in shares of UFP Technologies by 390.6% during the third quarter. Barclays PLC now owns 12,937 shares of the industrial products company’s stock worth $4,098,000 after acquiring an additional 10,300 shares during the last quarter. Assenagon Asset Management S.A. increased its position in UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock valued at $9,610,000 after purchasing an additional 30,372 shares during the period. Avanza Fonder AB bought a new position in UFP Technologies during the 4th quarter worth approximately $296,000. Oak Ridge Investments LLC lifted its position in shares of UFP Technologies by 52.4% in the 4th quarter. Oak Ridge Investments LLC now owns 8,576 shares of the industrial products company’s stock worth $2,097,000 after purchasing an additional 2,950 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in shares of UFP Technologies by 34.8% in the 4th quarter. Annex Advisory Services LLC now owns 61,808 shares of the industrial products company’s stock valued at $15,113,000 after purchasing an additional 15,940 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UFP Technologies

In related news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Raymond James began coverage on shares of UFP Technologies in a research note on Friday, March 28th. They set a “market perform” rating for the company. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com cut UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

UFP Technologies Stock Up 1.1 %

Shares of NASDAQ UFPT opened at $236.48 on Friday. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.82 billion, a PE ratio of 33.73 and a beta of 1.10. The company’s fifty day simple moving average is $208.81 and its 200 day simple moving average is $250.71. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.42. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The company had revenue of $148.15 million for the quarter, compared to analysts’ expectations of $139.93 million.

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.