UFP Technologies (NASDAQ:UFPT) Stock Price Down 6.2% – Here’s What Happened

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) traded down 6.2% during mid-day trading on Tuesday . The stock traded as low as $206.43 and last traded at $202.84. 18,038 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 74,181 shares. The stock had previously closed at $216.30.

Analyst Ratings Changes

Separately, StockNews.com cut UFP Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd.

UFP Technologies Price Performance

The firm has a fifty day moving average price of $248.54 and a two-hundred day moving average price of $279.41. The stock has a market capitalization of $1.65 billion, a P/E ratio of 30.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

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 firm had revenue of $144.07 million for the quarter, compared to analysts’ expectations of $141.67 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insider Activity

In related news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.17% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently bought and sold shares of UFPT. Wasatch Advisors LP raised its holdings in UFP Technologies by 65.4% in the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after purchasing an additional 166,262 shares during the period. Boston Trust Walden Corp bought a new position in UFP Technologies in the 4th quarter worth $26,395,000. Raymond James Financial Inc. bought a new position in UFP Technologies in the 4th quarter worth $16,808,000. Price T Rowe Associates Inc. MD raised its holdings in UFP Technologies by 55.8% in the 4th 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 period. Finally, Royal Bank of Canada raised its holdings in UFP Technologies by 508.8% in the 4th quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company’s stock worth $16,907,000 after purchasing an additional 57,787 shares during the period. 87.28% of the stock is owned by institutional investors.

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.