Bridgewater Associates LP Sells 2,587 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Bridgewater Associates LP cut its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 43.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,388 shares of the industrial products company's stock after selling 2,587 shares during the quarter. Bridgewater Associates LP's holdings in UFP Technologies were worth $1,073,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of UFPT. Tidal Investments LLC bought a new stake in UFP Technologies during the 1st quarter valued at about $448,000. Price T Rowe Associates Inc. MD raised its holdings in UFP Technologies by 2,331.5% in the 1st 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. Intech Investment Management LLC bought a new position in UFP Technologies in the 3rd quarter valued at approximately $1,176,000. Sequoia Financial Advisors LLC purchased a new stake in UFP Technologies during the 2nd quarter valued at $1,214,000. Finally, Millennium Management LLC boosted its stake in UFP Technologies by 78.8% during the 2nd quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company's stock valued at $7,047,000 after purchasing an additional 11,767 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company's stock.

Insider Activity at UFP Technologies

In related news, VP Jason Holt sold 146 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $342.69, for a total value of $50,032.74. Following the transaction, the vice president now owns 6,721 shares of the company's stock, valued at approximately $2,303,219.49. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO R Jeffrey Bailly sold 12,533 shares of the company'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 transaction of $4,342,183.18. Following the sale, the chief executive officer now directly owns 31,194 shares of the company's stock, valued at approximately $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. Insiders have sold a total of 13,326 shares of company stock worth $4,620,154 over the last quarter. Company insiders own 6.17% of the company's stock.

UFP Technologies Stock Down 4.8 %

Shares of UFPT stock traded down $15.48 during mid-day trading on Monday, hitting $307.44. The company's stock had a trading volume of 89,380 shares, compared to its average volume of 61,571. 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, Inc. has a 52-week low of $152.43 and a 52-week high of $366.41. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 46.07 and a beta of 0.96. The business has a 50-day moving average price of $306.26 and a 200 day moving average price of $299.89.

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.