Envestnet Portfolio Solutions Inc. Takes Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Envestnet Portfolio Solutions Inc. bought a new stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 821 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other institutional investors have also made changes to their positions in the business. Swiss National Bank grew its position in UFP Technologies by 6.3% in the fourth quarter. Swiss National Bank now owns 15,100 shares of the industrial products company’s stock valued at $3,692,000 after acquiring an additional 900 shares during the period. Avantax Advisory Services Inc. boosted its stake in shares of UFP Technologies by 11.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 862 shares of the industrial products company’s stock valued at $211,000 after purchasing an additional 87 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of UFP Technologies by 24.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 66 shares during the last quarter. Moran Wealth Management LLC increased its position in shares of UFP Technologies by 10.3% during the 4th quarter. Moran Wealth Management LLC now owns 3,207 shares of the industrial products company’s stock worth $784,000 after purchasing an additional 299 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in UFP Technologies during the 4th quarter valued at about $25,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.17% of the company’s stock.

UFP Technologies Stock Down 1.9 %

Shares of NASDAQ UFPT opened at $199.32 on Friday. UFP Technologies, Inc. has a 12-month low of $198.10 and a 12-month high of $366.41. The firm’s 50-day simple moving average is $241.95 and its 200 day simple moving average is $273.76. 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 market cap of $1.53 billion, a price-to-earnings ratio of 28.43 and a beta of 1.15.

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

Analyst Ratings Changes

Several brokerages have weighed in on UFPT. StockNews.com cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Raymond James started coverage on UFP Technologies in a research report on Friday. They set a “market perform” rating on the stock.

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.