Hennion & Walsh Asset Management Inc. Lowers Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Hennion & Walsh Asset Management Inc. cut its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,887 shares of the industrial products company’s stock after selling 132 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.08% of UFP Technologies worth $1,485,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Mountain Pacific Investment Advisers Inc. ID boosted its holdings in UFP Technologies by 46.0% during the fourth quarter. Mountain Pacific Investment Advisers Inc. ID now owns 70,360 shares of the industrial products company’s stock worth $12,105,000 after purchasing an additional 22,163 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of UFP Technologies during the 1st quarter worth approximately $4,798,000. Congress Asset Management Co. MA boosted its stake in shares of UFP Technologies by 15.1% in the 4th quarter. Congress Asset Management Co. MA now owns 67,829 shares of the industrial products company’s stock worth $11,669,000 after buying an additional 8,914 shares during the last quarter. Annex Advisory Services LLC grew its holdings in shares of UFP Technologies by 8.3% in the first quarter. Annex Advisory Services LLC now owns 46,489 shares of the industrial products company’s stock valued at $11,725,000 after acquiring an additional 3,564 shares in the last quarter. Finally, Peterson Wealth Services purchased a new stake in shares of UFP Technologies during the fourth quarter valued at approximately $204,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT opened at $263.87 on Friday. The firm has a market capitalization of $2.02 billion, a PE ratio of 42.42 and a beta of 0.97. The company has a quick ratio of 1.46, a current ratio of 2.87 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $250.46 and a two-hundred day moving average price of $215.03. UFP Technologies, Inc. has a twelve month low of $127.29 and a twelve month high of $270.72.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.66 EPS for the quarter. UFP Technologies had a net margin of 11.75% and a return on equity of 17.40%. The company had revenue of $105.01 million during the quarter.

Wall Street Analyst Weigh In

UFPT has been the subject of a number of recent analyst reports. Lake Street Capital upped their price objective on UFP Technologies from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. CJS Securities started coverage on shares of UFP Technologies in a report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price objective for the company.

UFP Technologies 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.