UFP Technologies (NASDAQ:UFPT) Hits New 1-Year High at $346.25

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $346.25 and last traded at $346.25, with a volume of 26827 shares traded. The stock had previously closed at $330.34.

Analyst Upgrades and Downgrades

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

UFP Technologies Stock Performance

The stock has a market capitalization of $2.59 billion, a PE ratio of 53.11 and a beta of 0.94. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $319.29 and a 200-day moving average of $270.68.

UFP Technologies (NASDAQ:UFPT - Get Free Report) 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 company had revenue of $110.18 million during the quarter.

Insider Transactions at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 20,000 shares of the firm's stock in a transaction on 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 directly owns 114,857 shares in the company, valued at $35,823,898.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related 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 transaction, the chief financial officer now directly owns 46,130 shares of the company's stock, valued at approximately $13,915,114.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO R Jeffrey Bailly sold 20,000 shares of UFP Technologies stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $311.90, for a total transaction of $6,238,000.00. Following the sale, the chief executive officer now owns 114,857 shares in the company, valued at $35,823,898.30. The disclosure for this sale can be found here. In the last three months, insiders sold 68,134 shares of company stock valued at $21,494,247. Insiders own 6.17% of the company's stock.

Hedge Funds Weigh In On UFP Technologies

Several hedge funds have recently made changes to their positions in UFPT. Cubist Systematic Strategies LLC purchased a new position in UFP Technologies during the 2nd quarter worth approximately $585,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of UFP Technologies in the second quarter valued at approximately $36,000. Select Equity Group L.P. grew its position in shares of UFP Technologies by 37.5% during the second quarter. Select Equity Group L.P. now owns 5,246 shares of the industrial products company's stock worth $1,384,000 after acquiring an additional 1,430 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of UFP Technologies by 14.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,151 shares of the industrial products company's stock valued at $1,095,000 after acquiring an additional 518 shares during the period. Finally, Millennium Management LLC raised its position in UFP Technologies by 78.8% in 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.

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.

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