UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Laurus Investment Counsel Inc.

Laurus Investment Counsel Inc. reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 35.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,210 shares of the industrial products company's stock after selling 3,410 shares during the period. UFP Technologies makes up approximately 1.0% of Laurus Investment Counsel Inc.'s investment portfolio, making the stock its 23rd biggest holding. Laurus Investment Counsel Inc. owned 0.08% of UFP Technologies worth $1,967,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of UFP Technologies by 5.2% in the 4th quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company's stock valued at $91,835,000 after acquiring an additional 26,269 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in 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 purchasing an additional 118,106 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in UFP Technologies by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company's stock valued at $27,737,000 after purchasing an additional 2,699 shares during the last quarter. Swedbank AB acquired a new stake in UFP Technologies during the 1st quarter worth about $25,220,000. Finally, Mountain Pacific Investment Advisers LLC raised its stake in shares of UFP Technologies by 0.3% during the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 92,976 shares of the industrial products company's stock valued at $29,445,000 after buying an additional 238 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Stock Performance

UFPT traded down $6.96 on Friday, reaching $302.43. The stock had a trading volume of 73,390 shares, compared to its average volume of 59,176. The business's 50-day moving average price is $319.84 and its two-hundred day moving average price is $285.34. The company has a market cap of $2.32 billion, a P/E ratio of 47.11 and a beta of 0.93. 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.

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

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 report on Wednesday, July 17th.

Insider Transactions at UFP Technologies

In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the company's stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Ronald J. Lataille sold 11,466 shares of UFP Technologies stock in a transaction dated 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $336,119.88. Following the transaction, the chief executive officer now directly owns 139,341 shares of the company's stock, valued at $43,245,872.76. The trade was a 0.00 % decrease in their position. 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 company insiders.

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.