Insider Selling: UFP Technologies, Inc. (NASDAQ:UFPT) Director Sells $1,563,694.86 in Stock

UFP Technologies, Inc. (NASDAQ:UFPT) Director Daniel C. Croteau sold 6,846 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares of the company’s stock, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

UFP Technologies Stock Up 1.2 %

Shares of NASDAQ:UFPT opened at $215.37 on Thursday. UFP Technologies, Inc. has a 52 week low of $188.50 and a 52 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. The company has a market capitalization of $1.65 billion, a PE ratio of 30.72 and a beta of 1.04. The company has a 50 day moving average price of $254.82 and a two-hundred day moving average price of $287.66.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. The company had revenue of $144.07 million during the quarter, compared to analysts’ expectations of $141.67 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP boosted its holdings in shares of UFP Technologies by 37.1% in the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company’s stock valued at $141,007,000 after buying an additional 156,142 shares during the period. Vanguard Group Inc. boosted its holdings in UFP Technologies by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company’s stock worth $136,309,000 after purchasing an additional 17,356 shares during the last quarter. State Street Corp boosted its holdings in 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 purchasing an additional 4,007 shares during the last quarter. Congress Asset Management Co. boosted its holdings in UFP Technologies by 14.2% during the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock worth $68,787,000 after purchasing an additional 35,022 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in UFP Technologies by 55.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock worth $43,625,000 after purchasing an additional 63,899 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

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.