Diamond Hill Capital Management Inc. Sells 11,606 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Diamond Hill Capital Management Inc. cut its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 42.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,664 shares of the industrial products company's stock after selling 11,606 shares during the period. Diamond Hill Capital Management Inc. owned 0.20% of UFP Technologies worth $4,961,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB purchased a new position in UFP Technologies in the first quarter valued at $25,220,000. Price T Rowe Associates Inc. MD increased its stake in shares of UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company's stock valued at $10,879,000 after acquiring an additional 41,360 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of UFP Technologies by 83.1% during the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company's stock valued at $18,791,000 after acquiring an additional 33,806 shares during the period. Scout Investments Inc. acquired a new position in UFP Technologies in the first quarter worth approximately $5,778,000. Finally, Millennium Management LLC boosted its stake in shares of 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 buying an additional 11,767 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other UFP Technologies news, CFO Ronald J. Lataille sold 4,798 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the completion of the transaction, the chief financial officer now owns 41,332 shares of the company's stock, valued at $13,657,746.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other UFP Technologies news, CFO Ronald J. Lataille sold 4,798 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the completion of the sale, the chief financial officer now directly owns 41,332 shares in the company, valued at approximately $13,657,746.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Jeffrey Bailly sold 20,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $311.90, for a total value of $6,238,000.00. Following the sale, the chief executive officer now owns 114,857 shares of the company's stock, valued at approximately $35,823,898.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,747 shares of company stock valued at $14,037,015. 6.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Lake Street Capital upped their price objective on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th.

UFP Technologies Trading Up 0.1 %

Shares of UFPT traded up $0.51 during mid-day trading on Tuesday, reaching $344.00. 73,725 shares of the company's stock traded hands, compared to its average volume of 61,142. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.56 and a quick ratio of 1.63. The stock has a market cap of $2.64 billion, a P/E ratio of 48.40 and a beta of 0.96. The stock's 50-day moving average is $310.37 and its two-hundred day moving average is $293.70. UFP Technologies, Inc. has a 12 month low of $140.52 and a 12 month high of $366.41.

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.