Bank of New York Mellon Corp Has $11.12 Million Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Bank of New York Mellon Corp reduced its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,472 shares of the industrial products company’s stock after selling 368 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of UFP Technologies worth $11,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Truvestments Capital LLC acquired a new position in shares of UFP Technologies in the 3rd quarter valued at $56,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in UFP Technologies by 97.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 133 shares during the last quarter. KBC Group NV lifted its stake in UFP Technologies by 42.4% in the third quarter. KBC Group NV now owns 272 shares of the industrial products company’s stock valued at $86,000 after buying an additional 81 shares during the period. Venturi Wealth Management LLC bought a new position in UFP Technologies during the fourth quarter worth about $74,000. Finally, Advisors Asset Management Inc. grew its position in shares of UFP Technologies by 39.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 412 shares of the industrial products company’s stock worth $130,000 after buying an additional 116 shares during the period. 87.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

UFP Technologies Price Performance

UFPT opened at $209.62 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 29.90 and a beta of 1.15. UFP Technologies, Inc. has a 12 month low of $188.50 and a 12 month high of $366.41. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $251.11 and a 200 day simple moving average of $283.22.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The company had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

Insiders Place Their Bets

In related news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares in the company, valued at $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.17% of the company’s stock.

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.