Victory Capital Management Inc. Decreases Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Victory Capital Management Inc. cut its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 50,924 shares of the industrial products company's stock after selling 5,551 shares during the quarter. Victory Capital Management Inc. owned 0.66% of UFP Technologies worth $13,437,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UFPT. Principal Securities Inc. acquired a new position in UFP Technologies during the fourth quarter worth $28,000. EverSource Wealth Advisors LLC raised its holdings in UFP Technologies by 1,614.3% during the first quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company's stock worth $30,000 after purchasing an additional 113 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in UFP Technologies during the first quarter worth $35,000. Rothschild Investment LLC purchased a new position in UFP Technologies during the second quarter worth $195,000. Finally, Townsend Asset Management Corp NC ADV purchased a new position in UFP Technologies during the second quarter worth $209,000. 87.28% of the stock is owned by institutional investors and hedge funds.

UFP Technologies Trading Up 5.0 %

Shares of NASDAQ:UFPT traded up $14.99 during midday trading on Friday, reaching $317.79. The company's stock had a trading volume of 39,654 shares, compared to its average volume of 44,741. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 51.09 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. UFP Technologies, Inc. has a 1 year low of $127.29 and a 1 year high of $341.23. The business has a 50 day moving average price of $318.17 and a 200 day moving average price of $268.64.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 2,392 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $329.04, for a total transaction of $787,063.68. Following the completion of the sale, the chief financial officer now owns 38,940 shares of the company's stock, valued at $12,812,817.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies 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 transaction, the chief executive officer now directly owns 139,341 shares in the company, 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 over the last quarter. Company insiders own 6.17% 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.