Riverchase Wealth Management LLC Acquires New Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Riverchase Wealth Management LLC bought a new position in UFP Technologies, Inc. (NASDAQ:UFPT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,149 shares of the industrial products company’s stock, valued at approximately $281,000.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC bought a new position in shares of UFP Technologies during the 4th quarter valued at about $25,000. Truvestments Capital LLC purchased a new stake in shares of UFP Technologies in the 3rd quarter worth about $56,000. Venturi Wealth Management LLC bought a new stake in UFP Technologies during the 4th quarter valued at approximately $74,000. EverSource Wealth Advisors LLC boosted its position in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 66 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of UFP Technologies by 97.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 270 shares of the industrial products company’s stock valued at $86,000 after buying an additional 133 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

UFP Technologies Trading Down 0.1 %

Shares of NASDAQ:UFPT opened at $203.23 on Friday. 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 company has a market cap of $1.56 billion, a P/E ratio of 28.99 and a beta of 1.15. The stock’s fifty day moving average price is $243.26 and its 200-day moving average price is $274.64. UFP Technologies, Inc. has a 1 year low of $198.10 and a 1 year high of $366.41.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, topping 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 business had revenue of $144.07 million for the quarter, compared to analysts’ expectations of $141.67 million.

Analyst Upgrades and Downgrades

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

Insider Activity

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the business’s stock in a transaction that occurred 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 $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 link. Company insiders own 6.17% of the company’s stock.

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.