World Investment Advisors LLC Takes Position in UFP Technologies, Inc. (NASDAQ:UFPT)

World Investment Advisors LLC bought a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,500 shares of the industrial products company’s stock, valued at approximately $792,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its stake in shares of UFP Technologies by 65.4% in the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock valued at $133,188,000 after buying an additional 166,262 shares during the period. State Street Corp increased its stake in shares of UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock worth $89,772,000 after buying an additional 4,007 shares during the period. Congress Asset Management Co. raised its holdings in UFP Technologies by 0.4% in the third quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company’s stock valued at $78,004,000 after acquiring an additional 986 shares in the last quarter. Geode Capital Management LLC lifted its stake in UFP Technologies by 2.0% in the third quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock worth $54,799,000 after acquiring an additional 3,333 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in UFP Technologies by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock worth $27,737,000 after acquiring an additional 2,699 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $246.98 on Tuesday. The stock’s 50-day simple moving average is $300.47 and its 200-day simple moving average is $302.02. The firm has a market capitalization of $1.90 billion, a PE ratio of 35.23 and a beta of 0.99. UFP Technologies, Inc. has a fifty-two week low of $152.43 and a fifty-two week high of $366.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Monday.

Insiders Place Their Bets

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $346.46, for a total transaction of $4,342,183.18. Following the transaction, the chief executive officer now owns 31,194 shares of the company’s stock, valued at approximately $10,807,473.24. This trade represents a 28.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jason Holt sold 146 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $342.69, for a total value of $50,032.74. Following the completion of the sale, the vice president now directly owns 6,721 shares of the company’s stock, valued at $2,303,219.49. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,326 shares of company stock valued at $4,620,154. 6.17% of the stock is owned by corporate insiders.

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.