Prudential Financial Inc. Sells 422 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Prudential Financial Inc. reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,309 shares of the industrial products company’s stock after selling 422 shares during the period. Prudential Financial Inc.’s holdings in UFP Technologies were worth $1,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPT. AlphaQuest LLC bought a new stake in UFP Technologies during the fourth quarter worth $25,000. Venturi Wealth Management LLC purchased a new position in UFP Technologies during the 4th quarter worth $74,000. EverSource Wealth Advisors LLC grew its stake in shares of UFP Technologies by 24.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 66 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of UFP Technologies by 97.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 133 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of UFP Technologies by 37.9% during the fourth quarter. KBC Group NV now owns 375 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 103 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on UFPT. StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Raymond James initiated coverage on UFP Technologies in a report on Friday, March 28th. They issued a “market perform” rating for the company.

Insider Buying and Selling at UFP Technologies

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 1,785 shares in the company, valued at approximately $407,711.85. This represents a 79.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.17% of the stock is owned by corporate insiders.

UFP Technologies Trading Down 3.5 %

NASDAQ UFPT opened at $186.83 on Friday. The business’s fifty day moving average is $235.04 and its 200-day moving average is $270.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 26.65 and a beta of 1.15. UFP Technologies, Inc. has a one year low of $181.28 and a one year high of $366.41.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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.

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.