UFP Technologies (NASDAQ:UFPT) Shares Down 4.6% - Here's What Happened

Shares of UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) fell 4.6% during trading on Tuesday . The stock traded as low as $279.06 and last traded at $279.06. 55,039 shares were traded during trading, a decline of 7% from the average session volume of 59,181 shares. The stock had previously closed at $292.66.

Wall Street Analyst Weigh In

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 report on Wednesday, July 17th.

UFP Technologies Stock Down 5.6 %

The stock has a market capitalization of $2.12 billion, a P/E ratio of 43.05 and a beta of 0.93. The company's 50-day moving average price is $318.82 and its 200 day moving average price is $286.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13.

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

Insider Activity at UFP Technologies

In related news, CFO Ronald J. Lataille sold 4,798 shares of the firm's 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 completion of the transaction, the chief financial officer now directly owns 41,332 shares of the company's stock, valued at approximately $13,657,746.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO R Jeffrey Bailly sold 10,887 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $310.46, for a total value of $3,379,978.02. Following the sale, the chief executive officer now directly owns 143,970 shares in the company, valued at $44,696,926.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ronald J. Lataille sold 4,798 shares of the business's 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 owns 41,332 shares in the company, valued at approximately $13,657,746.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,134 shares of company stock valued at $21,494,247. Corporate insiders own 6.17% of the company's stock.

Institutional Trading of UFP Technologies

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

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.