UFP Technologies, Inc. (NASDAQ:UFPT) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,108 shares of the industrial products company's stock after purchasing an additional 1,444 shares during the quarter. Principal Financial Group Inc. owned about 0.51% of UFP Technologies worth $9,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in UFP Technologies in the third quarter valued at about $56,000. KBC Group NV increased its stake in shares of UFP Technologies by 42.4% during the 3rd quarter. KBC Group NV now owns 272 shares of the industrial products company's stock worth $86,000 after purchasing an additional 81 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of UFP Technologies by 97.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company's stock valued at $86,000 after acquiring an additional 133 shares during the last quarter. Principal Securities Inc. increased its position in UFP Technologies by 110.4% during the 4th quarter. Principal Securities Inc. now owns 444 shares of the industrial products company's stock worth $109,000 after purchasing an additional 233 shares in the last quarter. Finally, Tributary Capital Management LLC acquired a new position in UFP Technologies in the 4th quarter valued at about $122,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Separately, StockNews.com lowered shares of UFP Technologies from a "hold" rating to a "sell" rating in a research report on Thursday, January 23rd.

UFP Technologies Trading Up 0.7 %

NASDAQ UFPT traded up $1.57 during mid-day trading on Tuesday, hitting $216.81. The company's stock had a trading volume of 140,714 shares, compared to its average volume of 106,018. The stock's fifty day simple moving average is $256.34 and its two-hundred day simple moving average is $288.96. UFP Technologies, Inc. has a 52-week low of $188.50 and a 52-week high of $366.41. 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 firm has a market capitalization of $1.66 billion, a P/E ratio of 30.89 and a beta of 1.04.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (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 business had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of UFP Technologies stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.17% of the stock is currently owned by corporate insiders.

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.