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

Raymond James Financial Inc. purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 68,741 shares of the industrial products company's stock, valued at approximately $16,808,000. Raymond James Financial Inc. owned 0.90% of UFP Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Boston Trust Walden Corp acquired a new position in UFP Technologies during the 4th quarter worth about $26,395,000. Franklin Resources Inc. boosted its holdings in UFP Technologies by 48.1% in the fourth quarter. Franklin Resources Inc. now owns 136,345 shares of the industrial products company's stock valued at $33,338,000 after acquiring an additional 44,292 shares during the last quarter. Congress Asset Management Co. increased its position in UFP Technologies by 14.2% during the 4th quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company's stock valued at $68,787,000 after purchasing an additional 35,022 shares during the period. Assenagon Asset Management S.A. raised 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. Finally, Swedbank AB lifted its position in shares of UFP Technologies by 33.3% in the 4th quarter. Swedbank AB now owns 80,000 shares of the industrial products company's stock worth $19,561,000 after purchasing an additional 20,000 shares during the period. Institutional investors own 87.28% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in 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 initiated coverage on UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating for the company.

UFP Technologies Stock Up 0.2 %

Shares of UFPT stock traded up $0.33 on Friday, reaching $207.22. 39,629 shares of the company were exchanged, compared to its average volume of 79,321. 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 company has a 50-day moving average of $215.00 and a 200-day moving average of $257.55. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 29.46 and a beta of 1.08. 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 announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.45. The business had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insider Activity at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the business's stock in a transaction dated 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 completion of the sale, the director now directly owns 1,785 shares of the company's stock, 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 at this link. 6.17% of the stock is currently owned by 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.