UFP Technologies (NASDAQ:UFPT) Downgraded to “Sell” at Zacks Investment Research

UFP Technologies (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, February 13th.

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 (UFPT) traded up $0.45 on Tuesday, hitting $29.50. The stock had a trading volume of 5,626 shares, compared to its average volume of 18,619. The firm has a market cap of $217.72, a price-to-earnings ratio of 27.06 and a beta of 0.13. UFP Technologies has a one year low of $23.55 and a one year high of $31.50.

Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in shares of UFP Technologies in the 3rd quarter worth approximately $128,000. New York State Common Retirement Fund boosted its position 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 purchasing an additional 5,597 shares during the period. The Manufacturers Life Insurance Company boosted its position in UFP Technologies by 21.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 1,237 shares during the period. Stone Ridge Asset Management LLC acquired a new position in UFP Technologies during the 4th quarter valued at approximately $220,000. Finally, CAPROCK Group Inc. acquired a new position in UFP Technologies during the 3rd quarter valued at approximately $243,000. Institutional investors own 68.03% of the company’s stock.

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About UFP Technologies

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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