UFP Technologies (NASDAQ:UFPT) Trading Down 6.8%

UFP Technologies, Inc. (NASDAQ:UFPT) was down 6.8% during trading on Tuesday . The company traded as low as $302.73 and last traded at $302.96. Approximately 22,377 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 58,831 shares. The stock had previously closed at $324.98.

Wall Street Analysts Forecast Growth

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

UFP Technologies Stock Down 10.1 %

The stock has a market cap of $2.24 billion, a PE ratio of 46.98 and a beta of 0.94. The business has a 50 day moving average price of $317.13 and a 200 day moving average price of $266.47. 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 released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. The business 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%.

Insider Activity at UFP Technologies

In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the transaction, the chief financial officer now owns 46,130 shares in the company, valued at $13,915,114.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction that occurred 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. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies stock in a transaction on Monday, August 12th. The shares were sold at an average price of $310.36, for a total transaction of $336,119.88. Following the completion of the sale, the chief executive officer now directly owns 139,341 shares in the company, valued at approximately $43,245,872.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,134 shares of company stock worth $21,494,247. 6.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On UFP Technologies

Several large investors have recently bought and sold shares of UFPT. Select Equity Group L.P. lifted its position in shares of UFP Technologies by 37.5% in the second quarter. Select Equity Group L.P. now owns 5,246 shares of the industrial products company’s stock valued at $1,384,000 after acquiring an additional 1,430 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of UFP Technologies by 14.3% during the second quarter. The Manufacturers Life Insurance Company now owns 4,151 shares of the industrial products company’s stock worth $1,095,000 after buying an additional 518 shares in the last quarter. Millennium Management LLC grew its holdings in shares of UFP Technologies by 78.8% during the second quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock worth $7,047,000 after buying an additional 11,767 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of UFP Technologies in the second quarter worth about $207,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in UFP Technologies during the second quarter worth about $36,000. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

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.