Allspring Global Investments Holdings LLC Decreases Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Allspring Global Investments Holdings LLC reduced its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,620 shares of the industrial products company’s stock after selling 3,859 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.39% of UFP Technologies worth $5,096,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UFPT. Charles Schwab Investment Management Inc. grew its stake in UFP Technologies by 193.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,070 shares of the industrial products company’s stock worth $9,214,000 after buying an additional 37,590 shares during the last quarter. EFG Asset Management North America Corp. purchased a new stake in shares of UFP Technologies during the third quarter worth about $1,196,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of UFP Technologies by 112.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 2,340 shares of the industrial products company’s stock valued at $378,000 after acquiring an additional 1,240 shares in the last quarter. Raymond James & Associates raised its position in shares of UFP Technologies by 8.8% in the 4th quarter. Raymond James & Associates now owns 22,001 shares of the industrial products company’s stock valued at $3,785,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in UFP Technologies by 7.2% in the 3rd quarter. Congress Asset Management Co. MA now owns 58,915 shares of the industrial products company’s stock worth $9,512,000 after purchasing an additional 3,946 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. KeyCorp started coverage on UFP Technologies in a report on Tuesday, February 6th. They issued a “sector weight” rating on the stock. CJS Securities initiated coverage on shares of UFP Technologies in a report on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price target on the stock. Finally, StockNews.com upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd.

Insider Activity

In related news, VP Steve Cardin sold 311 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total transaction of $61,111.50. Following the completion of the transaction, the vice president now owns 5,643 shares of the company’s stock, valued at approximately $1,108,849.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Steve Cardin sold 311 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total transaction of $61,111.50. Following the transaction, the vice president now owns 5,643 shares of the company’s stock, valued at approximately $1,108,849.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO R Jeffrey Bailly sold 27,090 shares of UFP Technologies stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $209.48, for a total value of $5,674,813.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,125 shares of company stock valued at $6,511,420. Company insiders own 7.80% of the company’s stock.

UFP Technologies Price Performance

NASDAQ:UFPT opened at $217.74 on Friday. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $257.29. The stock’s fifty day moving average is $216.57 and its two-hundred day moving average is $182.22. The company has a market capitalization of $1.66 billion, a P/E ratio of 37.22 and a beta of 0.83. The company has a quick ratio of 1.28, a current ratio of 2.48 and a debt-to-equity ratio of 0.10.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.41. The firm had revenue of $101.50 million for the quarter, compared to analyst estimates of $94.80 million. UFP Technologies had a net margin of 11.23% and a return on equity of 25.48%. Equities analysts expect that UFP Technologies, Inc. will post 6.19 EPS for the current year.

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.