Lord Abbett & CO. LLC Buys 5,243 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Lord Abbett & CO. LLC increased its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 69,043 shares of the industrial products company's stock after buying an additional 5,243 shares during the period. Lord Abbett & CO. LLC owned 0.90% of UFP Technologies worth $16,882,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of UFPT. Principal Financial Group Inc. lifted its position in UFP Technologies by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company's stock worth $9,562,000 after acquiring an additional 1,444 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company's stock worth $9,610,000 after purchasing an additional 30,372 shares during the last quarter. Raymond James Financial Inc. bought a new stake in UFP Technologies in the 4th quarter valued at $16,808,000. Mesirow Financial Investment Management Inc. grew its holdings in UFP Technologies by 102.3% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 3,170 shares of the industrial products company's stock valued at $775,000 after buying an additional 1,603 shares in the last quarter. Finally, Amundi increased its position in UFP Technologies by 197.1% during the 4th quarter. Amundi now owns 3,812 shares of the industrial products company's stock worth $957,000 after buying an additional 2,529 shares during the period. Institutional investors own 87.28% of the company's stock.

UFP Technologies Price Performance

UFP Technologies stock opened at $206.80 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 29.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock's fifty day moving average price is $213.99 and its two-hundred day moving average price is $256.76. UFP Technologies, Inc. has a one year low of $178.26 and a one year high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $141.67 million.

Insider Activity

In related news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.17% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on UFPT. StockNews.com downgraded shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd. Raymond James assumed coverage on shares of UFP Technologies in a report on Friday, March 28th. They issued a "market perform" rating for the company.

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.

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