Fulton Bank N.A. Buys New Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Fulton Bank N.A. bought a new stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) in the third quarter, Holdings Channel reports. The fund bought 701 shares of the industrial products company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UFPT. Vanguard Group Inc. increased its holdings in UFP Technologies by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock valued at $91,835,000 after buying an additional 26,269 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of UFP Technologies by 174.1% during the first quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock worth $46,893,000 after purchasing an additional 118,106 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of UFP Technologies by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock worth $27,737,000 after purchasing an additional 2,699 shares in the last quarter. Swedbank AB purchased a new stake in shares of UFP Technologies during the first quarter worth about $25,220,000. Finally, Mountain Pacific Investment Advisers LLC increased its stake in shares of UFP Technologies by 2.6% during the second quarter. Mountain Pacific Investment Advisers LLC now owns 92,738 shares of the industrial products company’s stock worth $24,471,000 after purchasing an additional 2,365 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Stock Down 0.7 %

Shares of NASDAQ UFPT opened at $288.03 on Thursday. UFP Technologies, Inc. has a 12-month low of $127.29 and a 12-month high of $366.41. The stock has a market cap of $2.21 billion, a PE ratio of 46.31 and a beta of 0.93. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $319.76 and a 200 day moving average of $282.51.

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

Analysts Set New Price Targets

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

Insider Activity at UFP Technologies

In related news, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total transaction of $336,119.88. Following the completion of the sale, the chief executive officer now owns 139,341 shares of the company’s stock, valued at approximately $43,245,872.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 1,598 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $319.37, for a total value of $510,353.26. Following the transaction, the chief financial officer now directly owns 57,596 shares in the company, valued at $18,394,434.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R Jeffrey Bailly sold 1,083 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total transaction of $336,119.88. Following the completion of the transaction, the chief executive officer now owns 139,341 shares in the company, valued at $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. In the last quarter, insiders sold 68,134 shares of company stock valued at $21,494,247. Corporate insiders own 6.17% of the company’s 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.