Inspire Advisors LLC Purchases New Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Inspire Advisors LLC acquired a new position in UFP Technologies, Inc. (NASDAQ:UFPT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,316 shares of the industrial products company’s stock, valued at approximately $332,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of UFP Technologies by 171.8% in the 1st quarter. Sei Investments Co. now owns 4,827 shares of the industrial products company’s stock valued at $1,217,000 after acquiring an additional 3,051 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in UFP Technologies by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 4,035 shares of the industrial products company’s stock valued at $1,018,000 after purchasing an additional 90 shares in the last quarter. SG Americas Securities LLC raised its holdings in UFP Technologies by 489.8% in the first quarter. SG Americas Securities LLC now owns 4,158 shares of the industrial products company’s stock worth $1,049,000 after purchasing an additional 3,453 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of UFP Technologies by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 6,151 shares of the industrial products company’s stock worth $1,551,000 after purchasing an additional 81 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of UFP Technologies in the 1st quarter valued at $229,000. 87.28% of the stock is owned by institutional investors.

UFP Technologies Stock Up 1.7 %

Shares of NASDAQ:UFPT traded up $5.30 during midday trading on Tuesday, reaching $317.00. 17,503 shares of the company were exchanged, compared to its average volume of 59,315. The firm has a market cap of $2.43 billion, a PE ratio of 50.11 and a beta of 0.95. UFP Technologies, Inc. has a fifty-two week low of $127.29 and a fifty-two week high of $319.60. The stock has a fifty day simple moving average of $264.61 and a two-hundred day simple moving average of $223.63. 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 (EPS) for the quarter. The firm had revenue of $105.01 million for the quarter. UFP Technologies had a return on equity of 17.40% and a net margin of 11.75%.

Analysts Set New Price Targets

Several brokerages recently commented on UFPT. Lake Street Capital raised their price objective on UFP Technologies from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. CJS Securities assumed coverage on UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price target on the stock.

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.