Renaissance Technologies LLC Sells 34,487 Shares of UFP Technologies, Inc. $UFPT

Renaissance Technologies LLC reduced its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 24.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 106,472 shares of the industrial products company’s stock after selling 34,487 shares during the quarter. Renaissance Technologies LLC’s holdings in UFP Technologies were worth $20,613,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of UFPT. Thrivent Financial for Lutherans raised its position in shares of UFP Technologies by 892.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock valued at $55,091,000 after acquiring an additional 223,121 shares during the last quarter. Wasatch Advisors LP lifted its stake in shares of UFP Technologies by 14.6% in the 4th quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock valued at $163,420,000 after purchasing an additional 93,640 shares during the period. Boston Trust Walden Corp boosted its position in shares of UFP Technologies by 36.3% in the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock worth $61,385,000 after purchasing an additional 84,396 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of UFP Technologies by 60.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock worth $37,115,000 after purchasing an additional 62,472 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC acquired a new stake in shares of UFP Technologies during the fourth quarter worth $11,572,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Price Performance

NASDAQ UFPT opened at $255.03 on Friday. 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 has a market cap of $1.97 billion, a price-to-earnings ratio of 28.95 and a beta of 1.07. The business has a 50 day simple moving average of $241.36 and a 200 day simple moving average of $228.31. UFP Technologies, Inc. has a 52-week low of $173.86 and a 52-week high of $279.49.

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

Insider Buying and Selling at UFP Technologies

In related news, Director Daniel C. Croteau sold 2,864 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the transaction, the director owned 855 shares in the company, valued at approximately $189,562.05. This represents a 77.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia L. Feldmann sold 1,200 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $239.29, for a total transaction of $287,148.00. Following the transaction, the director owned 5,476 shares of the company’s stock, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.59% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Technologies in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $289.00.

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.