Principal Financial Group Inc. Purchases 3,183 Shares of UFP Technologies, Inc. $UFPT

Principal Financial Group Inc. lifted its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,205 shares of the industrial products company’s stock after acquiring an additional 3,183 shares during the quarter. Principal Financial Group Inc. owned 0.59% of UFP Technologies worth $9,023,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in UFPT. Anchor Capital Advisors LLC raised its position in UFP Technologies by 1.6% in the 3rd quarter. Anchor Capital Advisors LLC now owns 4,350 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 70 shares during the period. Bank of Montreal Can grew its stake in shares of UFP Technologies by 6.7% during the second quarter. Bank of Montreal Can now owns 1,226 shares of the industrial products company’s stock valued at $299,000 after buying an additional 77 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of UFP Technologies by 3.8% during the second quarter. Portside Wealth Group LLC now owns 2,209 shares of the industrial products company’s stock valued at $539,000 after buying an additional 81 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of UFP Technologies by 290.3% in the second quarter. Nisa Investment Advisors LLC now owns 121 shares of the industrial products company’s stock worth $30,000 after buying an additional 90 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of UFP Technologies by 4.4% during the 3rd quarter. Amalgamated Bank now owns 2,171 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 91 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.00.

UFP Technologies Stock Performance

UFPT stock opened at $247.32 on Friday. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $275.81. The business has a 50-day moving average price of $242.80 and a 200 day moving average price of $222.29. The company has a market capitalization of $1.91 billion, a P/E ratio of 28.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.41 and a quick ratio of 1.36.

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.