UFP Technologies (NASDAQ:UFPT) Trading Down 4.6% – What’s Next?

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price fell 4.6% during mid-day trading on Tuesday . The company traded as low as $279.06 and last traded at $279.06. 55,039 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 59,181 shares. The stock had previously closed at $292.66.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital upped their price target on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th.

UFP Technologies Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The business’s fifty day simple moving average is $318.13 and its 200 day simple moving average is $286.30. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 43.56 and a beta of 0.93.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. UFP Technologies had a return on equity of 17.53% and a net margin of 11.87%. The business had revenue of $110.18 million during the quarter.

Insider Buying and Selling at UFP Technologies

In other news, CFO Ronald J. Lataille sold 2,392 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total transaction of $787,063.68. Following the completion of the transaction, the chief financial officer now owns 38,940 shares in the company, valued at approximately $12,812,817.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the sale, the chief financial officer now owns 41,332 shares of the company’s stock, valued at $13,657,746.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald J. Lataille sold 2,392 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the transaction, the chief financial officer now owns 38,940 shares of the company’s stock, valued at $12,812,817.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,134 shares of company stock worth $21,494,247. 6.17% of the stock is owned by insiders.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of UFP Technologies by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after buying an additional 26,269 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in UFP Technologies by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock worth $27,737,000 after purchasing an additional 2,699 shares in the last quarter. Swedbank AB acquired a new stake in UFP Technologies in the first quarter worth approximately $25,220,000. Mountain Pacific Investment Advisers LLC boosted its stake in UFP Technologies by 0.3% during the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 92,976 shares of the industrial products company’s stock valued at $29,445,000 after purchasing an additional 238 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its stake in shares of UFP Technologies by 83.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock worth $18,791,000 after buying an additional 33,806 shares in the last quarter. Institutional investors own 87.28% 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.