Rhumbline Advisers Has $5.35 Million Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Rhumbline Advisers lifted its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,255 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Rhumbline Advisers owned about 0.26% of UFP Technologies worth $5,345,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of UFP Technologies by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock valued at $91,835,000 after acquiring an additional 26,269 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of UFP Technologies during the first quarter valued at $4,798,000. Tidal Investments LLC acquired a new position in shares of UFP Technologies during the first quarter worth $448,000. Congress Wealth Management LLC DE grew its stake in shares of UFP Technologies by 221.7% in the first quarter. Congress Wealth Management LLC DE now owns 34,672 shares of the industrial products company’s stock worth $8,744,000 after purchasing an additional 23,895 shares during the last quarter. Finally, Congress Asset Management Co. MA increased its holdings in UFP Technologies by 15.1% in the fourth quarter. Congress Asset Management Co. MA now owns 67,829 shares of the industrial products company’s stock valued at $11,669,000 after purchasing an additional 8,914 shares during the period. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Trading Up 5.0 %

NASDAQ:UFPT opened at $317.79 on Monday. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $341.23. The firm’s fifty day moving average is $318.17 and its 200-day moving average is $269.07. The firm has a market cap of $2.44 billion, a P/E ratio of 51.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. UFP Technologies had a return on equity of 17.53% and a net margin of 11.87%. The firm had revenue of $110.18 million during the quarter.

Insiders Place Their Bets

In other news, CFO Ronald J. Lataille sold 2,392 shares of UFP Technologies stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the sale, the chief financial officer now owns 38,940 shares in the company, valued at approximately $12,812,817.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares of the company’s stock, valued at approximately $13,915,114.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ronald J. Lataille sold 2,392 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the sale, the chief financial officer now directly owns 38,940 shares of the company’s stock, valued at $12,812,817.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,134 shares of company stock worth $21,494,247. Corporate insiders own 6.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lifted their target price on UFP Technologies from $344.00 to $392.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

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.