UFP Technologies, Inc. (NASDAQ:UFPT) Shares Bought by Congress Asset Management Co. MA

Congress Asset Management Co. MA grew its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 174.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,935 shares of the industrial products company’s stock after acquiring an additional 118,106 shares during the quarter. Congress Asset Management Co. MA owned about 2.43% of UFP Technologies worth $46,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fragasso Group Inc. acquired a new position in shares of UFP Technologies during the 1st quarter valued at about $245,000. Confluence Investment Management LLC acquired a new stake in UFP Technologies during the 1st quarter worth approximately $4,798,000. Vanguard Group Inc. increased its position in UFP Technologies by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after purchasing an additional 26,269 shares in the last quarter. Virtu Financial LLC acquired a new stake in UFP Technologies during the 4th quarter worth approximately $274,000. Finally, Cim LLC acquired a new stake in UFP Technologies during the 4th quarter worth approximately $245,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analyst Ratings Changes

Separately, CJS Securities began coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 target price for the company.

UFP Technologies Stock Up 2.1 %

NASDAQ UFPT opened at $262.55 on Friday. The stock has a market cap of $2.01 billion, a PE ratio of 42.21 and a beta of 0.97. UFP Technologies, Inc. has a fifty-two week low of $127.29 and a fifty-two week high of $268.34. The business has a 50 day moving average price of $246.71 and a two-hundred day moving average price of $212.08. The company has a quick ratio of 1.46, a current ratio of 2.87 and a debt-to-equity ratio of 0.14.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.66 earnings per share for the quarter. The firm had revenue of $105.01 million during the quarter. UFP Technologies had a return on equity of 17.40% and a net margin of 11.75%.

About UFP Technologies

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.