Millennium Management LLC Purchases 11,767 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Millennium Management LLC grew its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 78.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,706 shares of the industrial products company's stock after acquiring an additional 11,767 shares during the period. Millennium Management LLC owned about 0.35% of UFP Technologies worth $7,047,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in shares of 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 valued at $30,000 after buying an additional 113 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in UFP Technologies during the 1st quarter worth approximately $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in UFP Technologies during the 2nd quarter worth approximately $36,000. Rothschild Investment LLC purchased a new position in UFP Technologies during the 2nd quarter worth approximately $195,000. Finally, Dark Forest Capital Management LP purchased a new position in UFP Technologies during the 2nd quarter worth approximately $207,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UFP Technologies

In related news, CFO Ronald J. Lataille sold 2,392 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the sale, the chief financial officer now owns 38,940 shares of the company's stock, valued at $12,812,817.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at $13,915,114.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ronald J. Lataille sold 2,392 shares of the business's stock in a transaction dated 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 owns 38,940 shares in the company, valued at approximately $12,812,817.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,134 shares of company stock valued at $21,494,247 over the last quarter. 6.17% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

UFP Technologies Stock Performance

UFPT traded up $16.80 during trading on Thursday, hitting $304.83. The stock had a trading volume of 93,293 shares, compared to its average volume of 59,620. The company has a 50 day simple moving average of $319.34 and a 200-day simple moving average of $282.67. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $366.41. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market cap of $2.34 billion, a PE ratio of 49.01 and a beta of 0.93.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter. The company 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%.

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.