UFP Technologies (NASDAQ:UFPT) Coverage Initiated at Raymond James

Raymond James began coverage on shares of UFP Technologies (NASDAQ:UFPT) in a research note released on Friday morning, MarketBeat reports. The brokerage issued a market perform rating on the industrial products company’s stock.

Separately, StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

UFP Technologies Stock Down 1.9 %

UFPT stock opened at $199.32 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 28.43 and a beta of 1.15. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $241.95 and its 200 day moving average price is $273.47. UFP Technologies has a 52 week low of $198.10 and a 52 week high of $366.41.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The firm had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million.

Insiders Place Their Bets

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now owns 1,785 shares of the company’s stock, valued at $407,711.85. This represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arete Wealth Advisors LLC raised its holdings in UFP Technologies by 5.4% in the fourth quarter. Arete Wealth Advisors LLC now owns 958 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 49 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of UFP Technologies by 1.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company’s stock valued at $1,041,000 after purchasing an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 66 shares during the last quarter. Anchor Capital Advisors LLC grew its stake in UFP Technologies by 1.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company’s stock worth $1,108,000 after purchasing an additional 69 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in UFP Technologies by 1.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company’s stock valued at $1,435,000 after buying an additional 70 shares during the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

UFP Technologies Company Profile

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.