UFP Technologies (NASDAQ:UFPT) Shares Down 6.5% – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price fell 6.5% during mid-day trading on Tuesday . The stock traded as low as $265.36 and last traded at $264.14. 20,230 shares were traded during trading, a decline of 80% from the average session volume of 103,708 shares. The stock had previously closed at $282.42.

Analysts Set New Price Targets

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

UFP Technologies Stock Performance

The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $269.47 and a 200-day simple moving average of $298.50. The company has a market capitalization of $2.12 billion, a P/E ratio of 39.37 and a beta of 1.04.

Insiders Place Their Bets

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 sale, the vice president now owns 6,721 shares in the company, valued at approximately $2,303,219.49. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO R Jeffrey Bailly sold 12,533 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total transaction of $4,342,183.18. Following the completion of the sale, the chief executive officer now owns 31,194 shares in the company, valued at $10,807,473.24. This represents a 28.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,326 shares of company stock valued at $4,620,154. Insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

A number of institutional investors have recently modified their holdings of UFPT. Wasatch Advisors LP increased 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. State Street Corp increased 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 buying an additional 4,007 shares during the last quarter. Congress Asset Management Co. raised its position 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 acquiring an additional 35,022 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 valued at $54,799,000 after acquiring an additional 3,333 shares during the last quarter. Finally, Boston Trust Walden Corp bought a new position in shares of UFP Technologies in the 4th quarter valued at about $26,395,000. 87.28% of the stock is currently owned by 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.