UFP Technologies, Inc. (NASDAQ:UFPT) Sees Large Increase in Short Interest

UFP Technologies, Inc. (NASDAQ:UFPT) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 485,300 shares, an increase of 27.8% from the September 30th total of 379,700 shares. Based on an average daily trading volume, of 56,100 shares, the short-interest ratio is currently 8.7 days. Approximately 6.6% of the shares of the company are sold short.

Insider Activity

In other news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at $13,915,114.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other UFP Technologies 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 sale, the chief financial officer now directly owns 46,130 shares in the company, valued at $13,915,114.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO R Jeffrey Bailly sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $311.90, for a total value of $6,238,000.00. Following the transaction, the chief executive officer now owns 114,857 shares in the company, valued at approximately $35,823,898.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,134 shares of company stock valued at $21,494,247 in the last ninety days. Corporate insiders own 6.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UFPT. Vanguard Group Inc. increased its position in UFP Technologies by 5.2% during the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after purchasing an additional 26,269 shares in the last quarter. Congress Asset Management Co. increased its holdings in UFP Technologies by 0.4% in the third quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company’s stock valued at $78,004,000 after buying an additional 986 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in UFP Technologies by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock valued at $27,737,000 after buying an additional 2,699 shares in the last quarter. Swedbank AB acquired a new position in shares of UFP Technologies in the 1st quarter worth approximately $25,220,000. Finally, Mountain Pacific Investment Advisers LLC boosted its stake in UFP Technologies by 0.3% in the third quarter. Mountain Pacific Investment Advisers LLC now owns 92,976 shares of the industrial products company’s stock valued at $29,445,000 after acquiring an additional 238 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Price Performance

UFPT stock opened at $287.38 on Wednesday. UFP Technologies has a 1 year low of $127.29 and a 1 year high of $366.41. The firm has a market capitalization of $2.20 billion, a PE ratio of 44.76 and a beta of 0.93. The business has a 50 day simple moving average of $315.27 and a 200-day simple moving average of $287.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The business had revenue of $110.18 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th.

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.