UFP Technologies (UFPT) Rating Lowered to Sell at Zacks Investment Research

UFP Technologies (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “

UFP Technologies (NASDAQ:UFPT) traded down $0.10 during mid-day trading on Tuesday, reaching $28.45. The company’s stock had a trading volume of 13,500 shares, compared to its average volume of 22,378. The firm has a market cap of $207.49, a P/E ratio of 26.10 and a beta of 0.13. UFP Technologies has a fifty-two week low of $23.55 and a fifty-two week high of $31.50.

A number of hedge funds have recently added to or reduced their stakes in UFPT. Macquarie Group Ltd. bought a new position in shares of UFP Technologies during the 3rd quarter worth approximately $128,000. New York State Common Retirement Fund lifted its position in shares of UFP Technologies by 559.1% during the 2nd quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after buying an additional 5,597 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of UFP Technologies by 21.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,237 shares in the last quarter. CAPROCK Group Inc. bought a new position in shares of UFP Technologies during the 3rd quarter worth approximately $243,000. Finally, Wells Fargo & Company MN lifted its position in shares of UFP Technologies by 44.7% during the 3rd quarter. Wells Fargo & Company MN now owns 8,957 shares of the industrial products company’s stock worth $252,000 after buying an additional 2,766 shares in the last quarter. Institutional investors and hedge funds own 68.41% of the company’s stock.

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About UFP Technologies

UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.

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