UFP Technologies, Inc. (NASDAQ:UFPT) Position Reduced by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,635 shares of the industrial products company’s stock after selling 90 shares during the period. Thrivent Financial for Lutherans’ holdings in UFP Technologies were worth $1,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in UFPT. Boston Trust Walden Corp purchased a new stake in shares of UFP Technologies during the fourth quarter valued at $26,395,000. Raymond James Financial Inc. acquired a new stake in UFP Technologies during the 4th quarter worth about $16,808,000. Congress Asset Management Co. lifted its stake in UFP Technologies by 14.2% during the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock valued at $68,787,000 after buying an additional 35,022 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of UFP Technologies by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock worth $9,610,000 after buying an additional 30,372 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of UFP Technologies by 39.4% in the third quarter. Franklin Resources Inc. now owns 92,053 shares of the industrial products company’s stock worth $28,904,000 after acquiring an additional 26,001 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UFPT shares. Raymond James began coverage on shares of UFP Technologies in a research report on Friday. They issued a “market perform” rating for the company. StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

UFP Technologies Trading Down 1.9 %

NASDAQ:UFPT opened at $199.32 on Monday. The stock has a market cap of $1.53 billion, a PE ratio of 28.43 and a beta of 1.15. UFP Technologies, Inc. has a fifty-two week low of $198.10 and a fifty-two week high of $366.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock’s 50-day moving average is $241.95 and its two-hundred day moving average is $273.47.

UFP Technologies (NASDAQ:UFPT) last posted 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. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $144.07 million during the quarter, compared to analysts’ expectations of $141.67 million.

Insider Buying and Selling

In other UFP Technologies 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 value of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at $407,711.85. The trade was a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.17% of the stock is owned by corporate insiders.

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.