Congress Wealth Management LLC DE Buys 23,895 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Congress Wealth Management LLC DE increased its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 221.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,672 shares of the industrial products company’s stock after purchasing an additional 23,895 shares during the quarter. Congress Wealth Management LLC DE owned 0.45% of UFP Technologies worth $8,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. boosted its position in shares of UFP Technologies by 98.6% during the fourth quarter. Federated Hermes Inc. now owns 147 shares of the industrial products company’s stock valued at $25,000 after buying an additional 73 shares during the period. Yousif Capital Management LLC grew its position in UFP Technologies by 1.9% in the 4th quarter. Yousif Capital Management LLC now owns 4,061 shares of the industrial products company’s stock valued at $699,000 after acquiring an additional 74 shares during the last quarter. Moran Wealth Management LLC increased its stake in UFP Technologies by 3.8% in the fourth quarter. Moran Wealth Management LLC now owns 2,165 shares of the industrial products company’s stock worth $372,000 after purchasing an additional 80 shares during the period. Alliance Wealth Advisors LLC UT lifted its position in shares of UFP Technologies by 4.6% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,403 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 105 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of UFP Technologies during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

NASDAQ UFPT traded up $25.22 during mid-day trading on Monday, hitting $289.09. The stock had a trading volume of 123,301 shares, compared to its average volume of 59,488. UFP Technologies, Inc. has a twelve month low of $127.29 and a twelve month high of $290.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.87 and a quick ratio of 1.46. The firm’s 50 day moving average is $251.98 and its 200 day moving average is $216.05. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 46.48 and a beta of 0.95.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.66 earnings per share for the quarter. The firm had revenue of $105.01 million for the quarter. UFP Technologies had a net margin of 11.75% and a return on equity of 17.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. CJS Securities started coverage on UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price objective on the stock. Lake Street Capital increased their target price on shares of UFP Technologies from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday.

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.