Laurus Investment Counsel Inc. Decreases Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Laurus Investment Counsel Inc. lessened its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,350 shares of the industrial products company’s stock after selling 1,100 shares during the period. UFP Technologies comprises about 1.1% of Laurus Investment Counsel Inc.’s holdings, making the stock its 25th biggest position. Laurus Investment Counsel Inc.’s holdings in UFP Technologies were worth $2,297,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. bought a new position in UFP Technologies during the fourth quarter worth about $34,000. Ronald Blue Trust Inc. bought a new position in UFP Technologies during the third quarter worth about $48,000. Point72 Asset Management L.P. bought a new position in UFP Technologies during the fourth quarter worth about $43,000. Citigroup Inc. boosted its position in UFP Technologies by 121.3% during the fourth quarter. Citigroup Inc. now owns 394 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 216 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in UFP Technologies during the third quarter worth about $87,000. Institutional investors own 87.28% of the company’s stock.

Insider Buying and Selling

In related news, VP Steve Cardin sold 311 shares of UFP Technologies stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total value of $61,111.50. Following the transaction, the vice president now directly owns 5,643 shares of the company’s stock, valued at $1,108,849.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Steve Cardin sold 311 shares of UFP Technologies stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total value of $61,111.50. Following the sale, the vice president now owns 5,643 shares in the company, valued at $1,108,849.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cynthia L. Feldmann sold 1,724 shares of UFP Technologies stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $207.77, for a total transaction of $358,195.48. Following the completion of the sale, the director now owns 4,466 shares in the company, valued at approximately $927,900.82. The disclosure for this sale can be found here. Insiders have sold a total of 31,125 shares of company stock valued at $6,511,420 over the last three months. 7.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

UFPT has been the subject of a number of analyst reports. CJS Securities initiated coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $255.00 price objective for the company. KeyCorp initiated coverage on shares of UFP Technologies in a research report on Tuesday, February 6th. They issued a “sector weight” rating for the company. Finally, StockNews.com upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, February 22nd.

UFP Technologies Trading Up 4.8 %

Shares of UFPT opened at $252.15 on Thursday. The firm’s 50 day simple moving average is $194.32 and its 200 day simple moving average is $173.49. The company has a market capitalization of $1.93 billion, a P/E ratio of 43.10 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.28. UFP Technologies, Inc. has a 1-year low of $122.80 and a 1-year high of $257.29.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.12 by $0.41. The firm had revenue of $101.50 million for the quarter, compared to the consensus estimate of $94.80 million. UFP Technologies had a net margin of 11.23% and a return on equity of 25.48%. Sell-side analysts forecast that UFP Technologies, Inc. will post 6.19 earnings per share for the current fiscal year.

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.