Eagle Ridge Investment Management Sells 304 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Eagle Ridge Investment Management cut its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,067 shares of the industrial products company’s stock after selling 304 shares during the period. Eagle Ridge Investment Management’s holdings in UFP Technologies were worth $655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new stake in shares of UFP Technologies during the 3rd quarter worth approximately $32,000. EverSource Wealth Advisors LLC increased its holdings in UFP Technologies by 1,614.3% during the first quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in UFP Technologies during the first quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in UFP Technologies in the second quarter valued at $36,000. Finally, GAMMA Investing LLC grew its position in shares of UFP Technologies by 77.9% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 60 shares during the period. 87.28% of the stock is currently owned by institutional investors.

Insider Activity at UFP Technologies

In other UFP Technologies news, CFO Ronald J. Lataille sold 1,598 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $319.37, for a total transaction of $510,353.26. Following the completion of the sale, the chief financial officer now directly owns 57,596 shares in the company, valued at $18,394,434.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other UFP Technologies news, CFO Ronald J. Lataille sold 1,598 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $319.37, for a total transaction of $510,353.26. Following the transaction, the chief financial officer now owns 57,596 shares in the company, valued at $18,394,434.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,585,451.12. Following the sale, the chief financial officer now directly owns 41,332 shares of the company’s stock, valued at $13,657,746.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,134 shares of company stock worth $21,494,247. Insiders own 6.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

UFP Technologies Stock Down 0.5 %

UFPT stock opened at $278.32 on Friday. UFP Technologies, Inc. has a 1-year low of $127.29 and a 1-year high of $366.41. The business’s 50 day simple moving average is $317.26 and its 200 day simple moving average is $286.24. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.13 billion, a PE ratio of 43.35 and a beta of 0.93.

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

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.