Wells Fargo & Company MN Has $2.03 Million Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Wells Fargo & Company MN increased its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,312 shares of the industrial products company's stock after buying an additional 1,629 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of UFP Technologies worth $2,032,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of UFP Technologies during the fourth quarter valued at $25,000. Venturi Wealth Management LLC purchased a new stake in shares of UFP Technologies during the fourth quarter valued at $74,000. EverSource Wealth Advisors LLC lifted its holdings in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 66 shares during the last quarter. KBC Group NV lifted its holdings in shares of UFP Technologies by 37.9% during the fourth quarter. KBC Group NV now owns 375 shares of the industrial products company's stock valued at $92,000 after purchasing an additional 103 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in UFP Technologies by 110.4% in 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. Institutional investors and hedge funds own 87.28% of the company's stock.

UFP Technologies Stock Up 1.5 %

UFPT stock traded up $3.00 during mid-day trading on Monday, hitting $209.80. The stock had a trading volume of 146,228 shares, compared to its average volume of 80,232. 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 $178.26 and a 1-year high of $366.41. The company has a fifty day moving average of $213.99 and a 200 day moving average of $256.42. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 29.93 and a beta of 1.08.

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 for the quarter, topping the consensus estimate of $2.01 by $0.45. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The company had revenue of $144.07 million for the quarter, compared to analyst estimates of $141.67 million.

Analysts Set New Price Targets

UFPT has been the subject of several research analyst reports. StockNews.com downgraded 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 issued a "market perform" rating for the company.

Insiders Place Their Bets

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction dated 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 transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.17% of the company's stock.

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.