Massachusetts Financial Services Co. MA Buys 2,699 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Massachusetts Financial Services Co. MA increased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 105,118 shares of the industrial products company’s stock after acquiring an additional 2,699 shares during the period. Massachusetts Financial Services Co. MA’s holdings in UFP Technologies were worth $27,737,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of UFPT. Charles Schwab Investment Management Inc. raised its position in UFP Technologies by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,004 shares of the industrial products company’s stock worth $10,151,000 after purchasing an additional 1,934 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of UFP Technologies during the 4th quarter valued at $28,000. Congress Wealth Management LLC DE raised its position in shares of UFP Technologies by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 10,777 shares of the industrial products company’s stock valued at $1,854,000 after acquiring an additional 248 shares during the last quarter. Alberta Investment Management Corp bought a new stake in shares of UFP Technologies during the 4th quarter valued at $1,245,000. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of UFP Technologies by 35.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 8,806 shares of the industrial products company’s stock valued at $1,515,000 after acquiring an additional 2,302 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital upped their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $358.42 on Friday. The company has a fifty day moving average price of $322.17 and a 200 day moving average price of $272.73. UFP Technologies, Inc. has a 1-year low of $127.29 and a 1-year high of $360.54. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.75 billion, a PE ratio of 57.62 and a beta of 0.94.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The company had revenue of $110.18 million during the quarter.

Insider Transactions at UFP Technologies

In related news, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the sale, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Ronald J. Lataille sold 2,392 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the sale, the chief financial officer now directly owns 38,940 shares in the company, valued at approximately $12,812,817.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the sale, the chief financial officer now owns 46,130 shares of the company’s stock, valued at $13,915,114.50. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock worth $21,494,247 in the last three months. Insiders own 6.17% of the company’s stock.

UFP Technologies Profile

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.