Zacks Investment Research Lowers UFP Technologies (NASDAQ:UFPT) to Hold

Zacks Investment Research downgraded shares of UFP Technologies (NASDAQ:UFPT) from a strong-buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

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 topic of a number of other reports. ValuEngine lowered UFP Technologies from a buy rating to a hold rating in a report on Tuesday. BidaskClub upgraded UFP Technologies from a sell rating to a hold rating in a research report on Wednesday, June 12th.

NASDAQ UFPT traded down $1.01 on Wednesday, reaching $41.64. The stock had a trading volume of 25,367 shares, compared to its average volume of 29,317. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.88 and a current ratio of 2.90. The stock’s fifty day moving average is $41.80. UFP Technologies has a 1-year low of $27.80 and a 1-year high of $46.42. The stock has a market capitalization of $321.74 million, a P/E ratio of 19.09 and a beta of 0.54.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. UFP Technologies had a return on equity of 12.03% and a net margin of 8.56%. The firm had revenue of $51.40 million for the quarter, compared to analyst estimates of $51.50 million. Analysts forecast that UFP Technologies will post 2.22 EPS for the current fiscal year.

In other news, CEO R Jeffrey Bailly sold 1,966 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $38.57, for a total transaction of $75,828.62. Following the completion of the sale, the chief executive officer now directly owns 476,879 shares in the company, valued at approximately $18,393,223.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 16,219 shares of company stock valued at $626,302. Corporate insiders own 11.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Cove Street Capital LLC lifted its position in shares of UFP Technologies by 1.0% during the 1st quarter. Cove Street Capital LLC now owns 720,344 shares of the industrial products company’s stock valued at $26,941,000 after acquiring an additional 7,480 shares during the period. BlackRock Inc. lifted its position in shares of UFP Technologies by 2.1% during the 4th quarter. BlackRock Inc. now owns 353,895 shares of the industrial products company’s stock valued at $10,630,000 after acquiring an additional 7,390 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of UFP Technologies by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 278,212 shares of the industrial products company’s stock valued at $8,358,000 after acquiring an additional 13,642 shares during the period. FMR LLC lifted its position in shares of UFP Technologies by 61.0% during the 1st quarter. FMR LLC now owns 202,001 shares of the industrial products company’s stock valued at $7,555,000 after acquiring an additional 76,557 shares during the period. Finally, GW&K Investment Management LLC bought a new stake in shares of UFP Technologies during the 2nd quarter valued at $6,814,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.

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. 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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