Renaissance Group LLC Sells 3,775 Shares of UFP Technologies, Inc. $UFPT

Renaissance Group LLC cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,064 shares of the industrial products company’s stock after selling 3,775 shares during the period. Renaissance Group LLC owned approximately 0.49% of UFP Technologies worth $8,451,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new stake in shares of UFP Technologies in the fourth quarter valued at about $28,000. Canada Pension Plan Investment Board bought a new stake in shares of UFP Technologies in the second quarter valued at about $49,000. PNC Financial Services Group Inc. lifted its holdings in shares of UFP Technologies by 66.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 236 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 94 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of UFP Technologies in the third quarter valued at about $51,000. Finally, State of Wyoming lifted its holdings in shares of UFP Technologies by 22.7% in the third quarter. State of Wyoming now owns 341 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 63 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Price Performance

NASDAQ:UFPT opened at $232.48 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.69 and a current ratio of 2.91. The stock’s 50-day simple moving average is $210.77 and its 200 day simple moving average is $223.16. The company has a market cap of $1.80 billion, a P/E ratio of 26.39 and a beta of 1.11. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $274.93.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.30. The business had revenue of $154.20 million for the quarter, compared to the consensus estimate of $154.78 million. UFP Technologies had a return on equity of 18.47% and a net margin of 11.27%.UFP Technologies’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.47 earnings per share. As a group, sell-side analysts forecast that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

UFPT has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $289.00.

Insider Activity

In related news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the sale, the director owned 855 shares of the company’s stock, valued at approximately $189,562.05. The trade was a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

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.