Massachusetts Financial Services Co. MA Acquires 2,699 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Massachusetts Financial Services Co. MA lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,118 shares of the industrial products company’s stock after purchasing an additional 2,699 shares during the period. Massachusetts Financial Services Co. MA owned 1.37% of UFP Technologies worth $27,737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UFPT. Congress Asset Management Co. MA increased its stake in UFP Technologies by 174.1% during the first quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock valued at $46,893,000 after acquiring an additional 118,106 shares during the period. Swedbank AB bought a new position in UFP Technologies during the first quarter valued at about $25,220,000. Price T Rowe Associates Inc. MD increased its stake in UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after acquiring an additional 41,360 shares during the period. Lord Abbett & CO. LLC increased its stake in UFP Technologies by 83.1% during the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after acquiring an additional 33,806 shares during the period. Finally, Norden Group LLC increased its stake in UFP Technologies by 1,464.8% during the first quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock valued at $7,920,000 after acquiring an additional 29,398 shares during the period. 87.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price target on UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

UFP Technologies Stock Up 1.0 %

NASDAQ UFPT opened at $358.42 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $322.17 and its two-hundred day moving average is $272.73. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 57.62 and a beta of 0.94. UFP Technologies, Inc. has a 1-year low of $127.29 and a 1-year high of $360.54.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. The company had revenue of $110.18 million for the quarter. UFP Technologies had a return on equity of 17.53% and a net margin of 11.87%.

Insider Buying and Selling at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 20,000 shares of UFP Technologies stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $311.90, for a total transaction of $6,238,000.00. Following the sale, the chief executive officer now directly owns 114,857 shares of the company’s stock, valued at $35,823,898.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO R Jeffrey Bailly sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $311.90, for a total value of $6,238,000.00. Following the transaction, the chief executive officer now directly owns 114,857 shares of the company’s stock, valued at approximately $35,823,898.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ronald J. Lataille sold 11,466 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at $13,915,114.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,134 shares of company stock valued at $21,494,247. 6.17% of the stock is currently owned by corporate insiders.

About UFP Technologies

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.