Summit Global Investments Takes Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Summit Global Investments purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,012 shares of the industrial products company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also modified their holdings of UFPT. Public Employees Retirement System of Ohio grew its holdings in UFP Technologies by 144.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock worth $5,136,000 after acquiring an additional 9,593 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of UFP Technologies by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock worth $21,250,000 after purchasing an additional 2,842 shares during the period. Intech Investment Management LLC bought a new stake in UFP Technologies in the third quarter valued at about $1,176,000. Principal Financial Group Inc. increased its holdings in UFP Technologies by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company’s stock valued at $9,562,000 after purchasing an additional 1,444 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in UFP Technologies by 32.2% in the third quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company’s stock valued at $3,668,000 after buying an additional 2,822 shares during the period. 87.28% of the stock is owned by institutional investors.

Insider Activity at UFP Technologies

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of UFP Technologies stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, the director now owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. The trade was a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.17% of the stock is owned by insiders.

UFP Technologies Trading Down 0.4 %

Shares of NASDAQ UFPT opened at $209.66 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a twelve month low of $198.10 and a twelve month high of $366.41. The company’s fifty day moving average is $245.47 and its 200-day moving average is $275.64. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 29.91 and a beta of 1.15.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The firm had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

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.