The Manufacturers Life Insurance Company Boosts Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

The Manufacturers Life Insurance Company boosted its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 14.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,151 shares of the industrial products company’s stock after acquiring an additional 518 shares during the period. The Manufacturers Life Insurance Company’s holdings in UFP Technologies were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of UFP Technologies by 78.8% during the second quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock valued at $7,047,000 after buying an additional 11,767 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in UFP Technologies in the 2nd quarter worth $207,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in UFP Technologies in the 2nd quarter worth $36,000. Cubist Systematic Strategies LLC purchased a new position in UFP Technologies in the 2nd quarter worth $585,000. Finally, Marshall Wace LLP purchased a new position in UFP Technologies in the 2nd quarter worth $2,412,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Insider Activity at UFP Technologies

In related news, CFO Ronald J. Lataille sold 1,598 shares of UFP Technologies stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $319.37, for a total value of $510,353.26. Following the sale, the chief financial officer now directly owns 57,596 shares in the company, valued at approximately $18,394,434.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Ronald J. Lataille sold 1,598 shares of UFP Technologies stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $319.37, for a total value of $510,353.26. Following the sale, the chief financial officer now directly owns 57,596 shares in the company, valued at approximately $18,394,434.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the sale, the chief executive officer now owns 139,341 shares in the company, valued at approximately $43,245,872.76. The trade was a 0.00 % decrease in their ownership of the stock. 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 90 days. Corporate insiders own 6.17% of the company’s stock.

UFP Technologies Stock Performance

NASDAQ UFPT opened at $312.76 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. UFP Technologies, Inc. has a fifty-two week low of $127.29 and a fifty-two week high of $366.41. The stock has a 50-day simple moving average of $319.27 and a two-hundred day simple moving average of $283.50. The firm has a market capitalization of $2.40 billion, a P/E ratio of 48.72 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their target price on UFP Technologies from $344.00 to $392.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th.

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.