UFP Technologies, Inc. (NASDAQ:UFPT) Stake Lifted by Peterson Wealth Services

Peterson Wealth Services increased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 182.5% in the 1st quarter, HoldingsChannel reports. The fund owned 3,356 shares of the industrial products company’s stock after acquiring an additional 2,168 shares during the period. Peterson Wealth Services’ holdings in UFP Technologies were worth $846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Federated Hermes Inc. lifted its stake in 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 purchasing an additional 73 shares during the last quarter. Principal Securities Inc. acquired a new stake in UFP Technologies during the fourth quarter valued at approximately $28,000. AJOVista LLC acquired a new stake in UFP Technologies during the fourth quarter valued at approximately $76,000. Mutual of America Capital Management LLC acquired a new stake in UFP Technologies during the fourth quarter valued at approximately $212,000. Finally, Everence Capital Management Inc. acquired a new stake in UFP Technologies during the fourth quarter valued at approximately $236,000. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Trading Up 1.1 %

Shares of NASDAQ:UFPT traded up $3.24 during mid-day trading on Friday, hitting $293.48. The stock had a trading volume of 53,393 shares, compared to its average volume of 49,912. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.46 and a current ratio of 2.87. The company has a market cap of $2.25 billion, a PE ratio of 47.18 and a beta of 0.95. UFP Technologies, Inc. has a 12-month low of $127.29 and a 12-month high of $296.76. The company’s 50 day moving average is $258.12 and its 200-day moving average is $218.62.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented 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 note on Friday, June 28th. CJS Securities assumed coverage on shares of UFP Technologies in a research note on Wednesday, March 20th. They set an “outperform” rating and a $255.00 target price for the company.

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.