Zacks Investment Research downgraded shares of UFP Technologies (NASDAQ:UFPT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.
According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “
Shares of UFP Technologies (NASDAQ:UFPT) opened at $29.65 on Tuesday. The stock has a market cap of $210.04, a PE ratio of 26.51 and a beta of 0.13. UFP Technologies has a twelve month low of $23.55 and a twelve month high of $31.50.
Several institutional investors have recently added to or reduced their stakes in UFPT. Bank of New York Mellon Corp lifted its holdings in shares of UFP Technologies by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,609 shares of the industrial products company’s stock worth $1,234,000 after acquiring an additional 2,025 shares during the last quarter. Teachers Advisors LLC lifted its holdings in UFP Technologies by 2.1% during the 2nd quarter. Teachers Advisors LLC now owns 11,190 shares of the industrial products company’s stock valued at $317,000 after buying an additional 226 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in UFP Technologies by 12.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 18,999 shares of the industrial products company’s stock valued at $538,000 after buying an additional 2,170 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in UFP Technologies by 952.3% during the 2nd quarter. Nationwide Fund Advisors now owns 40,775 shares of the industrial products company’s stock valued at $1,154,000 after buying an additional 36,900 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in UFP Technologies by 559.1% during the 2nd quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock valued at $187,000 after buying an additional 5,597 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.
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UFP Technologies Company Profile
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.
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