Renaissance Technologies LLC Decreases Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Renaissance Technologies LLC decreased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,612 shares of the industrial products company's stock after selling 2,761 shares during the quarter. Renaissance Technologies LLC owned about 3.83% of UFP Technologies worth $77,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of UFPT. Principal Securities Inc. bought a new stake in UFP Technologies during the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 113 shares during the last quarter. Advisors Asset Management Inc. bought a new position in UFP Technologies in the 1st quarter valued at about $35,000. Rothschild Investment LLC acquired a new position in UFP Technologies during the 2nd quarter valued at about $195,000. Finally, Townsend Asset Management Corp NC ADV bought a new stake in UFP Technologies during the 2nd quarter worth approximately $209,000. 87.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 10,887 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 143,970 shares in the company, valued at approximately $44,696,926.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ronald J. Lataille sold 2,392 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now owns 38,940 shares in the company, valued at approximately $12,812,817.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO R Jeffrey Bailly sold 10,887 shares of UFP Technologies stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the completion of the sale, the chief executive officer now directly owns 143,970 shares in the company, valued at approximately $44,696,926.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,134 shares of company stock valued at $21,494,247. 6.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

UFP Technologies Stock Up 1.9 %

Shares of UFPT traded up $6.08 during trading hours on Tuesday, reaching $330.34. 53,919 shares of the stock traded hands, compared to its average volume of 58,990. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $341.23. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 53.11 and a beta of 0.94. The stock has a fifty day simple moving average of $319.29 and a 200 day simple moving average of $270.68. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

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

UFP Technologies 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.