Bank of New York Mellon Corp boosted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,195 shares of the industrial products company’s stock after purchasing an additional 9,696 shares during the period. Bank of New York Mellon Corp owned about 0.82% of UFP Technologies worth $1,857,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. First Trust Advisors LP purchased a new position in UFP Technologies in the second quarter worth $231,000. Wedge Capital Management L L P NC bought a new stake in shares of UFP Technologies in the second quarter valued at $1,398,000. Acadian Asset Management LLC raised its stake in shares of UFP Technologies by 137.0% in the second quarter. Acadian Asset Management LLC now owns 7,337 shares of the industrial products company’s stock valued at $227,000 after buying an additional 4,241 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of UFP Technologies by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 222,278 shares of the industrial products company’s stock valued at $6,557,000 after buying an additional 31,173 shares during the period. 68.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of UFPT opened at $33.52 on Friday. The firm has a market capitalization of $270.46 million, a price-to-earnings ratio of 27.32 and a beta of 0.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.91 and a current ratio of 2.83. UFP Technologies, Inc. has a 1 year low of $26.00 and a 1 year high of $39.98.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Thursday, August 2nd. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The firm had revenue of $49.02 million for the quarter, compared to analyst estimates of $49.50 million. UFP Technologies had a return on equity of 9.11% and a net margin of 6.17%. Research analysts anticipate that UFP Technologies, Inc. will post 2.12 earnings per share for the current fiscal year.

In related news, insider R Jeffrey Bailly sold 20,941 shares of the business’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $35.50, for a total transaction of $743,405.50. Following the sale, the insider now directly owns 535,321 shares in the company, valued at approximately $19,003,895.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP W David Smith sold 7,286 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $34.58, for a total value of $251,949.88. Following the sale, the vice president now owns 19,837 shares in the company, valued at $685,963.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,619 shares of company stock worth $2,296,779. Corporate insiders own 12.30% of the company’s stock.

Several analysts have issued reports on the company. BidaskClub lowered UFP Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 5th. ValuEngine lowered UFP Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Taglich Brothers restated a “buy” rating on shares of UFP Technologies in a research note on Wednesday, August 29th. Finally, Zacks Investment Research upgraded UFP Technologies from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Saturday, September 1st.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. The company offers medical devices and components, disposable wound care components, automotive interior trims, athletic paddings, abrasive nail files and other beauty aids, air filtration products, high-temperature insulations, military uniform and gear components, and cushion packaging products.

Further Reading: Fundamental Analysis – How It Helps Investors

Want to see what other hedge funds are holding UFPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Technologies, Inc. (NASDAQ:UFPT).

Institutional Ownership by Quarter for UFP Technologies (NASDAQ:UFPT)

Receive News & Ratings for UFP Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Technologies and related companies with MarketBeat.com's FREE daily email newsletter.