UFP Technologies (UFPT) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of UFP Technologies (NASDAQ:UFPT) from a strong-buy rating to a hold rating in a report published on Wednesday 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. “

UFPT has been the subject of several other research reports. BidaskClub downgraded UFP Technologies from a buy rating to a hold rating in a report on Wednesday, September 5th. ValuEngine downgraded UFP Technologies from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Taglich Brothers reissued a buy rating on shares of UFP Technologies in a report on Wednesday, August 29th.

Shares of UFPT opened at $34.23 on Wednesday. The company has a market cap of $254.05 million, a PE ratio of 22.27 and a beta of 0.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.83 and a quick ratio of 1.91. UFP Technologies has a twelve month low of $26.00 and a twelve month high of $39.98.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings data on Thursday, November 1st. The industrial products company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $47.81 million during the quarter, compared to the consensus estimate of $49.80 million. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%. As a group, sell-side analysts expect that UFP Technologies will post 2.12 EPS for the current fiscal year.

In other UFP Technologies news, CFO Ronald J. Lataille sold 10,548 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $36.04, for a total transaction of $380,149.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R Jeffrey Bailly sold 20,941 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $35.50, for a total value of $743,405.50. Following the sale, the insider now directly owns 535,321 shares of the company’s stock, valued at approximately $19,003,895.50. The disclosure for this sale can be found here. Insiders have sold a total of 57,319 shares of company stock valued at $2,044,353 in the last ninety days. Insiders own 12.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in UFP Technologies by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 569,100 shares of the industrial products company’s stock valued at $17,557,000 after purchasing an additional 6,300 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in UFP Technologies during the 2nd quarter valued at $1,398,000. Dimensional Fund Advisors LP lifted its holdings in UFP Technologies by 16.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 222,278 shares of the industrial products company’s stock valued at $6,557,000 after purchasing an additional 31,173 shares during the last quarter. First Trust Advisors LP acquired a new stake in UFP Technologies during the 2nd quarter valued at $231,000. Finally, Argent Capital Management LLC lifted its holdings in UFP Technologies by 12.1% during the 2nd quarter. Argent Capital Management LLC now owns 79,742 shares of the industrial products company’s stock valued at $2,460,000 after purchasing an additional 8,615 shares during the last quarter. 68.77% of the stock is owned by institutional investors and hedge funds.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

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