Rice Hall James & Associates LLC Reduces Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Rice Hall James & Associates LLC reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,926 shares of the industrial products company's stock after selling 5,098 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.39% of UFP Technologies worth $7,897,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in UFPT. EverSource Wealth Advisors LLC grew its position in shares of UFP Technologies by 1,614.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company's stock worth $30,000 after buying an additional 113 shares during the period. Advisors Asset Management Inc. purchased a new stake in shares of UFP Technologies in the 1st quarter worth about $35,000. Principal Securities Inc. purchased a new stake in shares of UFP Technologies in the 4th quarter worth about $28,000. Rothschild Investment LLC purchased a new stake in shares of UFP Technologies in the 2nd quarter worth about $195,000. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in shares of UFP Technologies in the 2nd quarter worth about $209,000. 87.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at UFP Technologies

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

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT traded up $4.86 during trading on Wednesday, hitting $297.08. The company's stock had a trading volume of 47,846 shares, compared to its average volume of 59,192. The company has a 50-day moving average of $317.30 and a 200-day moving average of $267.04. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 47.62 and a beta of 0.94. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $341.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its 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.

Wall Street Analyst Weigh In

Separately, Lake Street Capital upped their price target on shares of UFP Technologies from $344.00 to $392.00 and gave the stock a "buy" rating in a research note 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.