Lord Abbett & CO. LLC Lowers Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Lord Abbett & CO. LLC reduced its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 20.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,800 shares of the industrial products company's stock after selling 16,880 shares during the period. Lord Abbett & CO. LLC owned about 0.83% of UFP Technologies worth $20,206,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in UFP Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 2,032 shares of the industrial products company's stock valued at $536,000 after acquiring an additional 38 shares during the period. Morgan Dempsey Capital Management LLC grew its holdings in shares of UFP Technologies by 2.9% in the second quarter. Morgan Dempsey Capital Management LLC now owns 1,459 shares of the industrial products company's stock worth $385,000 after purchasing an additional 41 shares during the last quarter. Millington Financial Advisors LLC increased its stake in shares of UFP Technologies by 0.4% in the second quarter. Millington Financial Advisors LLC now owns 12,737 shares of the industrial products company's stock worth $3,361,000 after buying an additional 51 shares during the period. GAMMA Investing LLC grew its holdings in UFP Technologies by 77.9% in the 3rd quarter. GAMMA Investing LLC now owns 137 shares of the industrial products company's stock worth $43,000 after acquiring an additional 60 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of UFP Technologies by 1.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,948 shares of the industrial products company's stock valued at $1,569,000 after acquiring an additional 61 shares during the period. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Trading Down 4.5 %

Shares of NASDAQ:UFPT traded down $11.64 during midday trading on Monday, hitting $246.98. 132,862 shares of the stock traded hands, compared to its average volume of 62,026. 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 market capitalization of $1.90 billion, a PE ratio of 35.23 and a beta of 0.99. UFP Technologies, Inc. has a one year low of $152.43 and a one year high of $366.41. The business's 50 day moving average is $300.47 and its two-hundred day moving average is $302.02.

Insider Buying and Selling

In other news, CEO R Jeffrey Bailly sold 12,533 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $346.46, for a total value of $4,342,183.18. Following the completion of the transaction, the chief executive officer now owns 31,194 shares of the company's stock, valued at approximately $10,807,473.24. This represents a 28.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 647 shares of UFP Technologies stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $352.30, for a total value of $227,938.10. Following the sale, the director now owns 4,049 shares in the company, valued at $1,426,462.70. This represents a 13.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,326 shares of company stock valued at $4,620,154 over the last quarter. 6.17% of the stock is owned by company insiders.

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.