Congress Asset Management Co. Has $78 Million Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Congress Asset Management Co. grew its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 246,303 shares of the industrial products company’s stock after acquiring an additional 986 shares during the period. Congress Asset Management Co.’s holdings in UFP Technologies were worth $78,004,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB bought a new position in UFP Technologies during the first quarter worth $25,220,000. Price T Rowe Associates Inc. MD boosted its position in shares of UFP Technologies by 2,331.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after purchasing an additional 41,360 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of UFP Technologies by 83.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after buying an additional 33,806 shares during the period. Norden Group LLC increased its position in UFP Technologies by 1,464.8% in the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock valued at $7,920,000 after buying an additional 29,398 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in UFP Technologies by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after buying an additional 26,269 shares during the period. 87.28% of the stock is owned by institutional investors.

UFP Technologies Stock Down 0.2 %

Shares of NASDAQ:UFPT traded down $0.45 during midday trading on Thursday, hitting $273.55. 6,022 shares of the company’s stock were exchanged, compared to its average volume of 59,468. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $366.41. The company has a market cap of $2.10 billion, a PE ratio of 42.68 and a beta of 0.93. The stock has a 50 day moving average price of $313.41 and a 200-day moving average price of $287.68.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 EPS 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.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital increased 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.

Insider Activity at UFP Technologies

In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of UFP Technologies stock in a transaction on 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 directly owns 46,130 shares of the company’s stock, valued at $13,915,114.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO R Jeffrey Bailly sold 10,887 shares of UFP Technologies stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the sale, the chief executive officer now directly owns 143,970 shares in the company, valued at approximately $44,696,926.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ronald J. Lataille sold 11,466 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at $13,915,114.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,134 shares of company stock valued at $21,494,247 over the last 90 days. 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.