Loomis Sayles & Co. L P Reduces Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Loomis Sayles & Co. L P trimmed its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,624 shares of the industrial products company's stock after selling 3,967 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.76% of UFP Technologies worth $14,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPT. Illinois Municipal Retirement Fund boosted its position in shares of UFP Technologies by 1.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company's stock worth $1,041,000 after purchasing an additional 52 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in UFP Technologies by 24.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after acquiring an additional 66 shares during the period. Anchor Capital Advisors LLC boosted its position in UFP Technologies by 1.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company's stock worth $1,108,000 after purchasing an additional 69 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of UFP Technologies by 1.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company's stock valued at $1,435,000 after purchasing an additional 70 shares during the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of UFP Technologies by 11.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 862 shares of the industrial products company's stock worth $211,000 after purchasing an additional 87 shares during the period. 87.28% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

UFPT has been the topic of a number of research analyst reports. Raymond James began coverage on UFP Technologies in a report on Friday, March 28th. They issued a "market perform" rating on the stock. StockNews.com cut shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

Insider Activity

In related news, Director Daniel C. Croteau sold 6,846 shares of UFP Technologies stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at $407,711.85. The trade was a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 6.17% of the company's stock.

UFP Technologies Price Performance

UFP Technologies stock traded up $4.57 during mid-day trading on Wednesday, reaching $208.50. 14,589 shares of the company's stock traded hands, compared to its average volume of 106,411. The stock has a 50 day moving average of $239.27 and a two-hundred day moving average of $271.96. UFP Technologies, Inc. has a 12-month low of $193.00 and a 12-month high of $366.41. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 29.74 and a beta of 1.15.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The company had revenue of $144.07 million during the quarter, compared to analysts' expectations of $141.67 million.

UFP Technologies Company 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.