Raymond James & Associates Invests $1.52 Million in UFP Technologies, Inc. (NASDAQ:UFPT)

Posted by Defense World Staff on Jun 1st, 2023

Raymond James & Associates purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,882 shares of the industrial products company’s stock, valued at approximately $1,519,000. Raymond James & Associates owned approximately 0.17% of UFP Technologies as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in UFPT. Lazard Asset Management LLC boosted its stake in shares of UFP Technologies by 169.2% during the 3rd quarter. Lazard Asset Management LLC now owns 428 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 269 shares in the last quarter. Captrust Financial Advisors boosted its stake in UFP Technologies by 3,322.2% during the 2nd quarter. Captrust Financial Advisors now owns 616 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 598 shares during the period. Tower Research Capital LLC TRC boosted its stake in UFP Technologies by 131.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 893 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 507 shares during the period. SG Americas Securities LLC bought a new stake in UFP Technologies during the 3rd quarter valued at approximately $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in UFP Technologies during the 4th quarter valued at approximately $111,000. Institutional investors own 80.34% of the company’s stock.

Insider Transactions at UFP Technologies

In other news, Director Thomas Oberdorf sold 4,200 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $141.50, for a total value of $594,300.00. Following the completion of the transaction, the director now directly owns 25,764 shares of the company’s stock, valued at approximately $3,645,606. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Thomas Oberdorf sold 4,200 shares of the stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $141.50, for a total value of $594,300.00. Following the completion of the transaction, the director now directly owns 25,764 shares of the company’s stock, valued at approximately $3,645,606. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ronald J. Lataille sold 7,354 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $142.06, for a total value of $1,044,709.24. Following the sale, the chief financial officer now directly owns 55,123 shares of the company’s stock, valued at $7,830,773.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,758 shares of company stock valued at $3,557,125. Corporate insiders own 7.80% of the company’s stock.

Analyst Upgrades and Downgrades

UFPT has been the subject of several recent analyst reports. VNET Group restated a “maintains” rating on shares of UFP Technologies in a research note on Wednesday, May 3rd. StockNews.com upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Lake Street Capital raised their price objective on UFP Technologies from $131.00 to $171.00 in a research report on Wednesday, May 3rd.

UFP Technologies Price Performance

Shares of UFPT stock opened at $154.63 on Thursday. The stock has a 50 day moving average of $139.92 and a two-hundred day moving average of $124.12. The company has a current ratio of 2.43, a quick ratio of 1.35 and a debt-to-equity ratio of 0.23. UFP Technologies, Inc. has a 12 month low of $71.83 and a 12 month high of $158.15. The company has a market capitalization of $1.18 billion, a P/E ratio of 25.35 and a beta of 0.78.

UFP Technologies (NASDAQ:UFPT – Get Rating) last issued its earnings results on Tuesday, March 7th. The industrial products company reported $1.10 earnings per share (EPS) for the quarter. UFP Technologies had a return on equity of 23.36% and a net margin of 12.27%. The business had revenue of $91.24 million during the quarter.

UFP Technologies Profile

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UFP Technologies, Inc engages in designing and custom manufacturing of components, subassemblies, products and packaging utilizing specialized foams, films, and plastics primarily for the medical market. The firm manufactures its products by converting raw materials using laminating, molding, radio frequency and impulse welding and fabricating manufacturing techniques. �It’s single-use and single-patient devices and components are used in a wide range of medical devices, disposable wound care products, infection prevention, minimally invasive surgery, wearables, orthopedic soft goods, and orthopedic implant packaging.