Anchor Capital Advisors LLC Increases Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Anchor Capital Advisors LLC grew its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,163 shares of the industrial products company’s stock after buying an additional 1,309 shares during the period. Anchor Capital Advisors LLC owned 0.12% of UFP Technologies worth $1,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in UFPT. Federated Hermes Inc. raised its stake in UFP Technologies by 98.6% in the 4th quarter. Federated Hermes Inc. now owns 147 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 73 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of UFP Technologies during the third quarter worth about $87,000. Peterson Wealth Services purchased a new stake in UFP Technologies in the fourth quarter valued at approximately $204,000. Mutual of America Capital Management LLC purchased a new stake in UFP Technologies in the fourth quarter valued at approximately $212,000. Finally, Everence Capital Management Inc. purchased a new position in UFP Technologies during the 4th quarter worth approximately $236,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Price Performance

UFP Technologies stock traded down $0.17 during trading on Tuesday, reaching $222.42. The company had a trading volume of 2,803 shares, compared to its average volume of 62,569. The firm has a market capitalization of $1.70 billion, a PE ratio of 38.05 and a beta of 0.83. The firm’s 50-day simple moving average is $221.48 and its 200 day simple moving average is $185.24. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.28 and a current ratio of 2.48. UFP Technologies, Inc. has a 1-year low of $127.29 and a 1-year high of $257.29.

UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.41. UFP Technologies had a net margin of 11.23% and a return on equity of 25.48%. The business had revenue of $101.50 million for the quarter, compared to analyst estimates of $94.80 million. As a group, equities research analysts anticipate that UFP Technologies, Inc. will post 6.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UFPT has been the subject of several recent research reports. StockNews.com raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. CJS Securities initiated coverage on UFP Technologies in a report on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price target for the company. Finally, KeyCorp started coverage on UFP Technologies in a research report on Tuesday, February 6th. They issued a “sector weight” rating on the stock.

Insider Buying and Selling at UFP Technologies

In related news, VP Steve Cardin sold 311 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total value of $61,111.50. Following the completion of the transaction, the vice president now directly owns 5,643 shares of the company’s stock, valued at approximately $1,108,849.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO R Jeffrey Bailly sold 27,090 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $209.48, for a total transaction of $5,674,813.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Steve Cardin sold 311 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total value of $61,111.50. Following the completion of the sale, the vice president now owns 5,643 shares of the company’s stock, valued at $1,108,849.50. The disclosure for this sale can be found here. Insiders sold 31,125 shares of company stock valued at $6,511,420 over the last quarter. 7.80% of the stock is currently owned by insiders.

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.