Ballast Asset Management LP Trims Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Ballast Asset Management LP lowered its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 41.8% during the 4th quarter, HoldingsChannel reports. The fund owned 6,012 shares of the industrial products company’s stock after selling 4,310 shares during the period. Ballast Asset Management LP’s holdings in UFP Technologies were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in UFPT. Public Employees Retirement System of Ohio lifted its holdings in UFP Technologies by 144.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock worth $5,136,000 after purchasing an additional 9,593 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of UFP Technologies by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock valued at $21,250,000 after buying an additional 2,842 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of UFP Technologies by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company’s stock worth $9,562,000 after buying an additional 1,444 shares in the last quarter. Jane Street Group LLC boosted its position in shares of UFP Technologies by 32.2% in the third quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company’s stock valued at $3,668,000 after acquiring an additional 2,822 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in UFP Technologies by 340.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock valued at $9,610,000 after acquiring an additional 30,372 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the transaction, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.17% of the company’s stock.

UFP Technologies Trading Up 1.2 %

Shares of UFPT opened at $201.71 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. UFP Technologies, Inc. has a 1-year low of $193.00 and a 1-year high of $366.41. The company has a market capitalization of $1.55 billion, a P/E ratio of 28.77 and a beta of 1.15. The firm’s 50 day simple moving average is $240.68 and its 200 day simple moving average is $272.76.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The firm had revenue of $144.07 million for the quarter, compared to analysts’ expectations of $141.67 million.

Analyst Ratings Changes

UFPT has been the topic of several recent analyst reports. Raymond James began coverage on shares of UFP Technologies in a research note on Friday. They issued a “market perform” rating on the stock. StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

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.