Anchor Capital Advisors LLC Sells 1,992 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Anchor Capital Advisors LLC decreased its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 26.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,559 shares of the industrial products company's stock after selling 1,992 shares during the quarter. Anchor Capital Advisors LLC owned 0.07% of UFP Technologies worth $1,467,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in UFP Technologies by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company's stock worth $91,835,000 after purchasing an additional 26,269 shares in the last quarter. Wasatch Advisors LP grew its holdings in UFP Technologies by 6.0% during the 4th quarter. Wasatch Advisors LP now owns 313,214 shares of the industrial products company's stock worth $53,885,000 after acquiring an additional 17,708 shares during the last quarter. Congress Asset Management Co. MA increased its position in UFP Technologies by 174.1% in the 1st quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company's stock valued at $46,893,000 after acquiring an additional 118,106 shares in the last quarter. Swedbank AB acquired a new stake in UFP Technologies in the 1st quarter valued at about $25,220,000. Finally, Mountain Pacific Investment Advisers LLC raised its stake in shares of UFP Technologies by 2.6% in the second quarter. Mountain Pacific Investment Advisers LLC now owns 92,738 shares of the industrial products company's stock worth $24,471,000 after acquiring an additional 2,365 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

UFP Technologies Trading Up 1.2 %

UFP Technologies stock traded up $3.74 during trading hours on Monday, reaching $324.98. 41,172 shares of the company's stock traded hands, compared to its average volume of 59,066. UFP Technologies, Inc. has a fifty-two week low of $127.29 and a fifty-two week high of $341.23. The firm's 50 day moving average is $316.41 and its 200-day moving average is $265.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 51.85 and a beta of 0.94.

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

Insider Buying and Selling

In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the transaction, the chief executive officer now owns 139,341 shares of the company's stock, valued at $43,245,872.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the sale, the chief executive officer now owns 139,341 shares of the company's stock, valued at $43,245,872.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald J. Lataille sold 2,392 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $329.04, for a total transaction of $787,063.68. Following the completion of the transaction, the chief financial officer now directly owns 38,940 shares of the company's stock, valued at approximately $12,812,817.60. The disclosure for this sale can be found here. Insiders sold a total of 68,134 shares of company stock valued at $21,494,247 over the last three months. Company insiders own 6.17% of the company's stock.

Analysts Set New Price Targets

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

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.