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 note issued to investors 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. “

Shares of UFP Technologies (NASDAQ:UFPT) opened at $28.40 on Tuesday. UFP Technologies has a 1 year low of $23.55 and a 1 year high of $31.50. The firm has a market capitalization of $206.76, a price-to-earnings ratio of 26.24 and a beta of 0.13.

A number of large investors have recently made changes to their positions in UFPT. Macquarie Group Ltd. bought a new stake in UFP Technologies in the third quarter valued at $128,000. New York State Common Retirement Fund grew its holdings in shares of UFP Technologies by 559.1% during the second quarter. New York State Common Retirement Fund now owns 6,598 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 5,597 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of UFP Technologies by 21.5% during the second quarter. The Manufacturers Life Insurance Company now owns 6,998 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 1,237 shares during the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of UFP Technologies during the fourth quarter worth $220,000. Finally, CAPROCK Group Inc. bought a new stake in shares of UFP Technologies during the third quarter worth $243,000. Hedge funds and other institutional investors own 68.41% of the company’s stock.

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UFP Technologies Company Profile

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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