Raymond James Financial Inc. Purchases New Shares in UFP Technologies, Inc. (NASDAQ:UFPT)

Raymond James Financial Inc. acquired a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 68,741 shares of the industrial products company's stock, valued at approximately $16,808,000. Raymond James Financial Inc. owned about 0.90% of UFP Technologies at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. 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. Anchor Capital Advisors LLC increased its holdings in shares of UFP Technologies by 1.5% during the fourth quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company's stock valued at $1,108,000 after acquiring an additional 69 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of UFP Technologies by 1.2% in 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. KBC Group NV boosted its stake in UFP Technologies by 42.4% in 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. Finally, Arete Wealth Advisors LLC grew its position in UFP Technologies by 10.9% during the 3rd quarter. Arete Wealth Advisors LLC now owns 909 shares of the industrial products company's stock worth $287,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

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Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were 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 represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.17% of the stock is currently owned by insiders.

UFP Technologies Stock Performance

UFPT traded down $13.77 during midday trading on Friday, hitting $198.85. 170,768 shares of the company were exchanged, compared to its average volume of 75,129. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 28.37 and a beta of 1.15. The company's 50 day simple moving average is $247.78 and its 200 day simple moving average is $278.95. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 1-year low of $197.97 and a 1-year high of $366.41.

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

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.