UFP Technologies (NASDAQ:UFPT) Sees Strong Trading Volume – Here’s Why

UFP Technologies, Inc. (NASDAQ:UFPT) shares saw an uptick in trading volume on Wednesday . 36,492 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 59,274 shares.The stock last traded at $280.00 and had previously closed at $276.41.

Analyst Upgrades and Downgrades

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

UFP Technologies Price Performance

The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.13 billion, a P/E ratio of 43.35 and a beta of 0.93. The business’s 50 day simple moving average is $317.26 and its two-hundred day simple moving average is $286.24.

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

Insiders Place Their Bets

In other news, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the sale, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at $13,915,114.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the transaction, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at approximately $13,915,114.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Jeffrey Bailly sold 10,887 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $310.46, for a total value of $3,379,978.02. Following the transaction, the chief executive officer now directly owns 143,970 shares in the company, valued at $44,696,926.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,134 shares of company stock valued at $21,494,247. Insiders own 6.17% of the company’s stock.

Institutional Investors Weigh In On UFP Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in UFP Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 2,032 shares of the industrial products company’s stock worth $536,000 after acquiring an additional 38 shares during the period. Morgan Dempsey Capital Management LLC grew its position in UFP Technologies by 2.9% during the second quarter. Morgan Dempsey Capital Management LLC now owns 1,459 shares of the industrial products company’s stock worth $385,000 after buying an additional 41 shares in the last quarter. Millington Financial Advisors LLC raised its holdings in shares of UFP Technologies by 0.4% in the 2nd quarter. Millington Financial Advisors LLC now owns 12,737 shares of the industrial products company’s stock valued at $3,361,000 after acquiring an additional 51 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of UFP Technologies by 77.9% during 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of UFP Technologies by 1.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,948 shares of the industrial products company’s stock worth $1,569,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Company Profile

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.