Sequoia Financial Advisors LLC Trims Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Sequoia Financial Advisors LLC lowered its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 77.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,049 shares of the industrial products company's stock after selling 3,552 shares during the period. Sequoia Financial Advisors LLC's holdings in UFP Technologies were worth $332,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of UFPT. Swedbank AB acquired a new stake in shares of UFP Technologies during the first quarter worth $25,220,000. Price T Rowe Associates Inc. MD grew its holdings in UFP Technologies by 2,331.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company's stock worth $10,879,000 after purchasing an additional 41,360 shares during the period. Lord Abbett & CO. LLC grew its holdings 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 worth $18,791,000 after purchasing an additional 33,806 shares during the period. Norden Group LLC grew its holdings in UFP Technologies by 1,464.8% in the first 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 period. Finally, Vanguard Group Inc. grew its holdings in UFP Technologies by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company's stock worth $91,835,000 after purchasing an additional 26,269 shares during the period. Institutional investors own 87.28% of the company's stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the sale, the chief executive officer now owns 139,341 shares of the company's stock, valued at approximately $43,245,872.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of UFP Technologies stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the sale, the chief executive officer now owns 139,341 shares of the company's stock, valued at approximately $43,245,872.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $3,458,718.90. Following the completion of the transaction, the chief financial officer now owns 46,130 shares of the company's stock, valued at $13,915,114.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,134 shares of company stock valued at $21,494,247. Company insiders own 6.17% of the company's stock.

UFP Technologies Stock Up 3.0 %

Shares of UFPT traded up $8.48 during trading hours on Tuesday, reaching $287.38. 48,394 shares of the stock traded hands, compared to its average volume of 59,719. 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 stock has a fifty day simple moving average of $315.27 and a 200 day simple moving average of $287.37. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $366.41. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 44.76 and a beta of 0.93.

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 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.