Principal Financial Group Inc. Acquires 1,444 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Principal Financial Group Inc. grew its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,108 shares of the industrial products company’s stock after acquiring an additional 1,444 shares during the quarter. Principal Financial Group Inc. owned about 0.51% of UFP Technologies worth $9,562,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Creative Planning bought a new stake in UFP Technologies in the 3rd quarter worth approximately $231,000. Raymond James & Associates lifted its position in UFP Technologies by 11.3% in the 3rd quarter. Raymond James & Associates now owns 18,602 shares of the industrial products company’s stock worth $5,891,000 after buying an additional 1,887 shares during the last quarter. New York State Teachers Retirement System lifted its position in UFP Technologies by 8.7% in the 3rd quarter. New York State Teachers Retirement System now owns 2,608 shares of the industrial products company’s stock worth $826,000 after buying an additional 208 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in UFP Technologies in the 3rd quarter worth approximately $1,782,000. Finally, Portside Wealth Group LLC lifted its position in UFP Technologies by 11.1% in the 3rd quarter. Portside Wealth Group LLC now owns 1,875 shares of the industrial products company’s stock worth $594,000 after buying an additional 187 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Performance

Shares of UFPT stock opened at $227.59 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. UFP Technologies, Inc. has a fifty-two week low of $188.50 and a fifty-two week high of $366.41. The stock has a 50 day moving average price of $257.59 and a two-hundred day moving average price of $290.60. The company has a market capitalization of $1.75 billion, a P/E ratio of 32.47 and a beta of 1.04.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data 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 return on equity of 18.92% and a net margin of 11.74%. The firm had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

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.