UFP Technologies (NASDAQ:UFPT) Stock Price Down 6% – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT) was down 6% during mid-day trading on Wednesday . The company traded as low as $270.19 and last traded at $270.19. Approximately 21,438 shares traded hands during trading, a decline of 64% from the average daily volume of 59,536 shares. The stock had previously closed at $287.38.

Wall Street Analysts Forecast Growth

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

UFP Technologies Price Performance

The company has a market cap of $2.09 billion, a price-to-earnings ratio of 41.59 and a beta of 0.93. The stock’s 50-day simple moving average is $312.31 and its 200 day simple moving average is $287.54. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14.

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

Insider Activity

In other news, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the transaction, the chief executive officer now owns 139,341 shares in the company, valued at approximately $43,245,872.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Ronald J. Lataille sold 4,798 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 41,332 shares of the company’s stock, valued at approximately $13,657,746.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the transaction, the chief executive officer now directly owns 139,341 shares of the company’s stock, valued at $43,245,872.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,536 shares of company stock worth $20,983,894. Corporate insiders own 6.17% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its stake 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 valued at $536,000 after acquiring an additional 38 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake in UFP Technologies by 2.9% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 1,459 shares of the industrial products company’s stock valued at $385,000 after buying an additional 41 shares during the period. Millington Financial Advisors LLC raised its position in UFP Technologies by 0.4% during the 2nd quarter. Millington Financial Advisors LLC now owns 12,737 shares of the industrial products company’s stock worth $3,361,000 after buying an additional 51 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of UFP Technologies by 77.9% in the third 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake 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 acquiring an additional 61 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

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.