UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC trimmed its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,402 shares of the industrial products company’s stock after selling 960 shares during the quarter. Geneva Capital Management LLC owned approximately 1.04% of UFP Technologies worth $19,415,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UFPT. Wasatch Advisors LP boosted its position in shares of UFP Technologies by 65.4% in the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after buying an additional 166,262 shares during the period. State Street Corp boosted its position in shares of UFP Technologies by 1.4% in the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock worth $89,772,000 after buying an additional 4,007 shares during the period. Congress Asset Management Co. boosted its position in shares of UFP Technologies by 14.2% in the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after buying an additional 35,022 shares during the period. Geode Capital Management LLC boosted its position in shares of UFP Technologies by 2.0% in the third quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock worth $54,799,000 after buying an additional 3,333 shares during the period. Finally, Boston Trust Walden Corp acquired a new stake in shares of UFP Technologies in the fourth quarter worth $26,395,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now owns 1,785 shares of the company’s stock, valued at $407,711.85. The trade was a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.17% of the company’s stock.

Analyst Ratings Changes

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

UFP Technologies Price Performance

UFPT opened at $215.37 on Thursday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 30.72 and a beta of 1.04. UFP Technologies, Inc. has a 1 year low of $188.50 and a 1 year high of $366.41. 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 stock has a fifty day moving average price of $254.82 and a 200 day moving average price of $287.66.

UFP Technologies (NASDAQ:UFPT) last released 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. The firm had revenue of $144.07 million during the quarter, compared to analysts’ expectations of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

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.