Grandeur Peak buys $755K UFP Technologies stake as insiders sell
What's the deal? Grandeur Peak Global AdvisorsDealroom has a profile for this one. Try Dealroom → bought 2,848 shares of UFP TechnologiesDealroom has a profile for this one. Try Dealroom → in the second quarter, a stake valued at about $755,000, according to its latest Form 13F filing with the Securities and Exchange Commission.
Who else is buying? Several institutions opened new positions in the quarter, including Bank of AmericaDealroom has a profile for this one. Try Dealroom →, which bought roughly $15,991,000 worth of stock, and Punch & Associates Investment ManagementDealroom has a profile for this one. Try Dealroom →, at about $6,018,000. Hedge funds and other institutional investors own 87.28% of the company.
Meanwhile, insiders sell: Director Marc D. Kozin sold 7,000 shares on August 25 at an average of $304.50, a $2,131,500 transaction that cut his holding by 24.90%. Insiders sold 27,119 shares worth $8,460,232 over the past three months; they hold 4.59% of the stock.
The numbers: UFP Technologies posted $2.92 EPS for the quarter ended August 3, beating the $2.31 consensus by $0.61. Revenue reached $173.96 million against estimates of $159.38 million.
Stock check: Shares opened at $299.95 on Friday, within a 12-month range of $173.86 to $338.71. The company carries a market capitalisation of $2.32 billion, a PE ratio of 32.32, and a debt-to-equity ratio of 0.26.
What analysts say: Wall Street Zen upgraded the stock from hold to buy on August 8, while Weiss Ratings nudged its hold rating higher on August 5. The consensus rating is hold, per MarketBeat.com data.
The signal: Fresh institutional buying alongside heavy insider selling sends mixed messages on the industrial products maker, whose earnings beat sits against a stock trading near the top of its yearly range.
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