Summit Global Investments Invests $247,000 in UFP Technologies, Inc. (NASDAQ:UFPT)

Summit Global Investments bought a new stake in UFP Technologies, Inc. (NASDAQ:UFPT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 1,012 shares of the industrial products company’s stock, valued at approximately $247,000.

Several other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP boosted its stake in shares of UFP Technologies by 65.4% during the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after buying an additional 166,262 shares during the last quarter. State Street Corp boosted its position in UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after purchasing an additional 4,007 shares during the last quarter. Congress Asset Management Co. increased its position in shares of UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after purchasing an additional 35,022 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of UFP Technologies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock worth $54,799,000 after purchasing an additional 3,333 shares in the last quarter. Finally, Boston Trust Walden Corp acquired a new stake in shares of UFP Technologies in the 4th quarter valued at approximately $26,395,000. Institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

UFP Technologies Stock Performance

UFPT opened at $209.66 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 12-month low of $198.10 and a 12-month high of $366.41. The business has a 50 day moving average of $245.47 and a 200-day moving average of $275.64. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 29.91 and a beta of 1.15.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The business had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm’s 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 completion of the sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.17% 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.