UFP Technologies (NASDAQ:UFPT) Trading Down 7.2% – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT) shares dropped 7.2% on Friday . The stock traded as low as $263.23 and last traded at $259.73. Approximately 40,081 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 97,811 shares. The stock had previously closed at $279.94.

Analyst Upgrades and Downgrades

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

UFP Technologies Trading Down 6.6 %

The firm has a market cap of $2.00 billion, a PE ratio of 37.28 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock’s fifty day simple moving average is $265.06 and its 200-day simple moving average is $296.99.

Insider Activity

In related news, VP Jason Holt sold 146 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $342.69, for a total value of $50,032.74. Following the completion of the transaction, the vice president now owns 6,721 shares of the company’s stock, valued at approximately $2,303,219.49. This represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R Jeffrey Bailly sold 12,533 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total value of $4,342,183.18. Following the completion of the sale, the chief executive officer now owns 31,194 shares of the company’s stock, valued at $10,807,473.24. This trade represents a 28.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.17% of the company’s stock.

Institutional Investors Weigh In On UFP Technologies

A number of institutional investors have recently added to or reduced their stakes in UFPT. Wasatch Advisors LP raised its position in shares of UFP Technologies by 65.4% during 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 last quarter. Boston Trust Walden Corp purchased a new stake in UFP Technologies during the 4th quarter worth approximately $26,395,000. Raymond James Financial Inc. acquired a new position in shares of UFP Technologies during the fourth quarter valued at approximately $16,808,000. Congress Asset Management Co. lifted its position in shares of UFP Technologies by 14.2% in the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company’s stock valued at $68,787,000 after acquiring an additional 35,022 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of UFP Technologies by 340.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock worth $9,610,000 after acquiring an additional 30,372 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

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.