Raymond James Initiates Coverage on UFP Technologies (NASDAQ:UFPT)

Raymond James initiated coverage on shares of UFP Technologies (NASDAQ:UFPT - Free Report) in a research report report published on Friday, Marketbeat.com reports. The firm issued a market perform rating on the industrial products company's stock.

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

UFP Technologies Price Performance

Shares of UFPT traded up $1.96 during mid-day trading on Friday, hitting $203.67. 25,053 shares of the company traded hands, compared to its average volume of 75,361. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $240.68 and a 200 day moving average of $272.76. UFP Technologies has a one year low of $193.00 and a one year high of $366.41. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 29.01 and a beta of 1.15.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $144.07 million during the quarter, compared to analysts' expectations of $141.67 million.

Insider Buying and Selling at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the firm's 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 transaction, the director now directly owns 1,785 shares of the company's stock, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.17% of the company's stock.

Institutional Trading of UFP Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its position in UFP Technologies by 3.7% during the 4th quarter. California State Teachers Retirement System now owns 7,143 shares of the industrial products company's stock worth $1,747,000 after purchasing an additional 252 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of UFP Technologies in the 4th quarter valued at $107,000. Public Employees Retirement System of Ohio boosted its holdings in shares of UFP Technologies by 28.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 20,790 shares of the industrial products company's stock valued at $5,083,000 after acquiring an additional 4,572 shares in the last quarter. Palisades Investment Partners LLC grew its position in UFP Technologies by 9.2% during the 4th quarter. Palisades Investment Partners LLC now owns 34,927 shares of the industrial products company's stock worth $8,540,000 after acquiring an additional 2,945 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of UFP Technologies by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,529 shares of the industrial products company's stock worth $2,819,000 after purchasing an additional 163 shares during the last quarter. Institutional investors own 87.28% of the company's stock.

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.