UFP Technologies (NASDAQ:UFPT) Coverage Initiated at Raymond James

Raymond James began coverage on shares of UFP Technologies (NASDAQ:UFPT) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “market perform” rating on the industrial products company’s stock.

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

UFP Technologies Stock Down 1.9 %

Shares of NASDAQ:UFPT opened at $199.32 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 28.43 and a beta of 1.15. The stock’s 50-day moving average price is $241.95 and its two-hundred day moving average price is $273.64. UFP Technologies has a 12-month low of $198.10 and a 12-month high of $366.41.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.01 by $0.45. The firm had revenue of $144.07 million during 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%.

Insider Buying and Selling

In other news, Director Daniel C. Croteau sold 6,846 shares of UFP Technologies stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently added to or reduced their stakes in UFPT. California State Teachers Retirement System lifted its stake in shares of UFP Technologies by 3.7% in the fourth quarter. California State Teachers Retirement System now owns 7,143 shares of the industrial products company’s stock worth $1,747,000 after acquiring an additional 252 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of UFP Technologies during the 4th quarter valued at approximately $107,000. Public Employees Retirement System of Ohio grew its position in shares of UFP Technologies by 28.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the industrial products company’s stock worth $5,083,000 after buying an additional 4,572 shares in the last quarter. Palisades Investment Partners LLC increased its stake in shares of UFP Technologies by 9.2% in the fourth quarter. Palisades Investment Partners LLC now owns 34,927 shares of the industrial products company’s stock worth $8,540,000 after buying an additional 2,945 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in UFP Technologies by 1.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,529 shares of the industrial products company’s stock valued at $2,819,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 87.28% 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.