Royal Bank of Canada Decreases Stake in UFP Technologies, Inc. $UFPT

Royal Bank of Canada decreased its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,179 shares of the industrial products company’s stock after selling 11,343 shares during the quarter. Royal Bank of Canada owned approximately 1.02% of UFP Technologies worth $15,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashford Capital Management Inc. grew its stake in UFP Technologies by 11.7% during the 1st quarter. Ashford Capital Management Inc. now owns 108,010 shares of the industrial products company’s stock valued at $20,911,000 after purchasing an additional 11,350 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of UFP Technologies by 110.0% during the 1st quarter. Rice Hall James & Associates LLC now owns 21,211 shares of the industrial products company’s stock valued at $4,106,000 after buying an additional 11,111 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of UFP Technologies by 13.6% during the 1st quarter. Public Employees Retirement System of Ohio now owns 20,779 shares of the industrial products company’s stock valued at $4,023,000 after buying an additional 2,485 shares during the last quarter. Gibbs Wealth Management grew its position in shares of UFP Technologies by 99.6% during the first quarter. Gibbs Wealth Management now owns 6,965 shares of the industrial products company’s stock worth $1,348,000 after buying an additional 3,476 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in UFP Technologies by 144.7% during the 1st quarter. Sei Investments Co. now owns 26,305 shares of the industrial products company’s stock worth $5,093,000 after acquiring an additional 15,553 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

Shares of UFP Technologies stock opened at $314.01 on Friday. UFP Technologies, Inc. has a 52 week low of $173.86 and a 52 week high of $338.71. The stock has a market cap of $2.43 billion, a PE ratio of 33.84 and a beta of 1.08. The company’s 50-day moving average price is $250.24 and its two-hundred day moving average price is $230.32. The company has a current ratio of 3.00, a quick ratio of 1.69 and a debt-to-equity ratio of 0.23.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.61. The firm had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. As a group, sell-side analysts anticipate that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

Insider Activity

In other news, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total value of $634,977.44. Following the transaction, the director directly owned 855 shares of the company’s stock, valued at $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cynthia L. Feldmann sold 1,200 shares of UFP Technologies stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $239.29, for a total transaction of $287,148.00. Following the transaction, the director owned 5,476 shares in the company, valued at approximately $1,310,352.04. The trade was a 17.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UFPT. Weiss Ratings upgraded UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.