Truist Financial Corp Makes New Investment in UFP Technologies, Inc. (NASDAQ:UFPT)

Truist Financial Corp bought a new stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,641 shares of the industrial products company's stock, valued at approximately $401,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UFPT. Principal Financial Group Inc. lifted its stake in shares of 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 purchasing an additional 1,444 shares in the last quarter. Principal Securities Inc. lifted 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 acquiring an additional 233 shares in the last quarter. Congress Asset Management Co. lifted 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 worth $68,787,000 after acquiring an additional 35,022 shares in the last quarter. Legato Capital Management LLC lifted its position in UFP Technologies by 2.2% during the 4th quarter. Legato Capital Management LLC now owns 36,229 shares of the industrial products company's stock worth $8,858,000 after acquiring an additional 791 shares in the last quarter. Finally, Peterson Wealth Services lifted its position in shares of UFP Technologies by 4.1% during the fourth quarter. Peterson Wealth Services now owns 4,099 shares of the industrial products company's stock worth $1,002,000 after purchasing an additional 163 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

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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 report on Thursday, January 23rd.

Insider Buying and Selling at UFP Technologies

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

UFP Technologies Stock Up 1.9 %

Shares of UFPT traded up $4.15 during trading on Friday, reaching $220.64. The company's stock had a trading volume of 101,483 shares, compared to its average volume of 108,941. The company has a fifty day moving average of $253.53 and a two-hundred day moving average of $286.42. UFP Technologies, Inc. has a twelve month low of $188.50 and a twelve month high of $366.41. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 31.48 and a beta of 1.15. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its earnings results 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 net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

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.