Raymond James Financial Inc. Invests $16.81 Million in UFP Technologies, Inc. (NASDAQ:UFPT)

Raymond James Financial Inc. bought a new position in UFP Technologies, Inc. (NASDAQ:UFPT) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 68,741 shares of the industrial products company’s stock, valued at approximately $16,808,000. Raymond James Financial Inc. owned approximately 0.90% of UFP Technologies at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in UFP Technologies during the third quarter valued at about $56,000. Venturi Wealth Management LLC bought a new position in UFP Technologies during the fourth quarter valued at about $74,000. KBC Group NV grew its position in UFP Technologies by 42.4% during 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. Point72 Asia Singapore Pte. Ltd. grew its position in UFP Technologies by 97.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company’s stock valued at $86,000 after buying an additional 133 shares during the period. Finally, Principal Securities Inc. grew its position in UFP Technologies by 110.4% during the fourth quarter. Principal Securities Inc. now owns 444 shares of the industrial products company’s stock valued at $109,000 after buying an additional 233 shares during the period. Institutional investors own 87.28% of the company’s stock.

Insider Buying and Selling at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction dated 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 sale, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. This represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

UFP Technologies Price Performance

NASDAQ UFPT opened at $216.30 on Tuesday. The company has a market cap of $1.66 billion, a PE ratio of 30.86 and a beta of 1.15. UFP Technologies, Inc. has a 52 week low of $188.50 and a 52 week 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 firm’s 50-day simple moving average is $249.97 and its two-hundred day simple moving average is $280.81.

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

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.