UFP Technologies (NASDAQ:UFPT) Stock Price Down 6% – Time to Sell?

UFP Technologies, Inc. (NASDAQ:UFPT) fell 6% on Wednesday . The company traded as low as $270.19 and last traded at $270.19. 21,438 shares traded hands during trading, a decline of 64% from the average session volume of 59,536 shares. The stock had previously closed at $287.38.

Analyst Upgrades and Downgrades

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

UFP Technologies Price Performance

The firm has a 50-day simple moving average of $314.44 and a two-hundred day simple moving average of $287.78. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 44.76 and a beta of 0.93. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

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

Insider Activity

In related news, CFO Ronald J. Lataille sold 4,798 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the sale, the chief financial officer now directly owns 41,332 shares of the company’s stock, valued at approximately $13,657,746.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $310.36, for a total transaction of $336,119.88. Following the completion of the transaction, the chief executive officer now directly owns 139,341 shares of the company’s stock, valued at $43,245,872.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ronald J. Lataille sold 4,798 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total value of $1,585,451.12. Following the transaction, the chief financial officer now owns 41,332 shares in the company, valued at $13,657,746.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock valued at $21,494,247 in the last three months. 6.17% of the stock is currently owned by corporate insiders.

Institutional Trading of UFP Technologies

Several institutional investors have recently modified their holdings of UFPT. Swedbank AB purchased a new position in UFP Technologies in the 1st quarter valued at about $25,220,000. Price T Rowe Associates Inc. MD boosted its stake in shares of UFP Technologies by 2,331.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after acquiring an additional 41,360 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in UFP Technologies by 83.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after purchasing an additional 33,806 shares in the last quarter. Norden Group LLC raised its position in shares of UFP Technologies by 1,464.8% in the first quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock valued at $7,920,000 after buying an additional 29,398 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of UFP Technologies by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after buying an additional 26,269 shares in 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.