Diamond Hill Capital Management Inc. Sells 7,205 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Diamond Hill Capital Management Inc. cut its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 20.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,270 shares of the industrial products company's stock after selling 7,205 shares during the period. Diamond Hill Capital Management Inc. owned about 0.36% of UFP Technologies worth $7,196,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Congress Asset Management Co. MA boosted its holdings in shares of UFP Technologies by 174.1% in the first 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 position in shares of UFP Technologies in the 1st quarter valued at about $25,220,000. Price T Rowe Associates Inc. MD boosted its stake in shares of UFP Technologies by 2,331.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company's stock valued at $10,879,000 after buying an additional 41,360 shares during the period. Lord Abbett & CO. LLC grew its stake in UFP Technologies by 83.1% in the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company's stock valued at $18,791,000 after purchasing an additional 33,806 shares in the last quarter. Finally, Norden Group LLC increased its position in UFP Technologies by 1,464.8% in the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company's stock worth $7,920,000 after purchasing an additional 29,398 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO R Jeffrey Bailly sold 10,887 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total value of $3,379,978.02. Following the completion of the sale, the chief executive officer now directly owns 143,970 shares of the company's stock, valued at $44,696,926.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ronald J. Lataille sold 11,466 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total value of $3,458,718.90. Following the sale, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R Jeffrey Bailly sold 10,887 shares of the firm's stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total value of $3,379,978.02. Following the transaction, the chief executive officer now owns 143,970 shares of the company's stock, valued at approximately $44,696,926.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,134 shares of company stock valued at $21,494,247. 6.17% of the stock is owned by insiders.

UFP Technologies Stock Up 2.0 %

NASDAQ:UFPT traded up $6.47 during trading hours on Monday, reaching $324.26. The company's stock had a trading volume of 36,351 shares, compared to its average volume of 59,019. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 51.09 and a beta of 0.94. UFP Technologies, Inc. has a one year low of $127.29 and a one year high of $341.23. The business's 50-day moving average is $318.17 and its 200-day moving average is $269.07.

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

Wall Street Analyst Weigh In

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

About UFP Technologies

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.