Keebeck Wealth Management Invests $595,000 in UFP Technologies, Inc. $UFPT

Keebeck Wealth Management bought a new stake in UFP Technologies, Inc. (NASDAQ:UFPT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,246 shares of the industrial products company’s stock, valued at approximately $595,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Silvant Capital Management LLC purchased a new position in UFP Technologies in the second quarter worth $29,000. Global Retirement Partners LLC purchased a new stake in shares of UFP Technologies during the 4th quarter valued at $28,000. Versant Capital Management Inc raised its stake in shares of UFP Technologies by 1,291.7% during the 2nd quarter. Versant Capital Management Inc now owns 167 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 155 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of UFP Technologies by 1,500.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 176 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 165 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of UFP Technologies in the 2nd quarter worth about $49,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UFPT has been the subject of several research reports. Weiss Ratings upgraded shares of UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of UFP Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, UFP Technologies currently has a consensus rating of “Hold”.

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $309.13 on Friday. The company has a current ratio of 3.00, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $268.38 and a two-hundred day simple moving average of $234.60. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $338.71. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 33.31 and a beta of 1.08.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.61. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%.The firm had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. Analysts anticipate that UFP Technologies, Inc. will post 10.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman R Jeffrey Bailly sold 5,013 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $317.87, for a total value of $1,593,482.31. Following the sale, the chairman directly owned 13,011 shares in the company, valued at approximately $4,135,806.57. The trade was a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Symeria Hudson sold 298 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $319.11, for a total transaction of $95,094.78. Following the sale, the director directly owned 927 shares in the company, valued at approximately $295,814.97. This trade represents a 24.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 20,119 shares of company stock valued at $6,328,732. 4.59% of the stock is owned by insiders.

About UFP Technologies

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.