Eagle Ridge Investment Management cut its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,104 shares of the industrial products company’s stock after selling 1,509 shares during the period. Eagle Ridge Investment Management owned about 0.11% of UFP Technologies worth $337,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in UFP Technologies by 545.1% in the first quarter. BNP Paribas Arbitrage SA now owns 1,387 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 1,172 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in UFP Technologies in the fourth quarter valued at $70,000. MetLife Investment Advisors LLC acquired a new stake in UFP Technologies in the fourth quarter valued at $95,000. Alambic Investment Management L.P. acquired a new stake in UFP Technologies in the first quarter valued at $253,000. Finally, Cubic Asset Management LLC acquired a new stake in UFP Technologies in the first quarter valued at $291,000. Institutional investors own 74.10% of the company’s stock.
UFPT traded up $0.08 during trading on Thursday, reaching $41.32. 164 shares of the stock traded hands, compared to its average volume of 30,821. The company has a quick ratio of 1.88, a current ratio of 2.90 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $315.18 million, a PE ratio of 19.74 and a beta of 0.54. The company has a 50-day simple moving average of $41.85. UFP Technologies, Inc. has a 12 month low of $27.80 and a 12 month high of $46.42.
UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $51.40 million for the quarter, compared to analysts’ expectations of $51.50 million. UFP Technologies had a net margin of 8.56% and a return on equity of 12.03%. Equities research analysts anticipate that UFP Technologies, Inc. will post 2.22 EPS for the current fiscal year.
UFPT has been the subject of a number of recent research reports. ValuEngine downgraded UFP Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research downgraded UFP Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, BidaskClub upgraded UFP Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 12th.
In other UFP Technologies news, insider R Jeffrey Bailly sold 7,680 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $38.70, for a total transaction of $297,216.00. Following the sale, the insider now owns 495,722 shares of the company’s stock, valued at $19,184,441.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 16,219 shares of company stock worth $626,302 in the last ninety days. Insiders own 11.00% of the company’s stock.
UFP Technologies Company Profile
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. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.
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