Franklin Resources Inc. Acquires 26,001 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Franklin Resources Inc. raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 39.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,053 shares of the industrial products company's stock after purchasing an additional 26,001 shares during the period. Franklin Resources Inc. owned approximately 1.20% of UFP Technologies worth $28,904,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in UFP Technologies by 144.8% in the third quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company's stock valued at $5,136,000 after purchasing an additional 9,593 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of UFP Technologies by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company's stock valued at $21,250,000 after buying an additional 2,842 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of UFP Technologies during the 3rd quarter worth approximately $1,176,000. Eagle Asset Management Inc. acquired a new stake in shares of UFP Technologies during the 3rd quarter worth approximately $9,791,000. Finally, BNP Paribas Financial Markets increased its stake in UFP Technologies by 217.2% in the third quarter. BNP Paribas Financial Markets now owns 7,842 shares of the industrial products company's stock valued at $2,484,000 after acquiring an additional 5,370 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded UFP Technologies from a "hold" rating to a "sell" rating in a research report on Monday.

UFP Technologies Price Performance

Shares of UFPT traded up $4.16 during trading hours on Thursday, reaching $246.04. The stock had a trading volume of 102,122 shares, compared to its average volume of 63,494. The stock has a market capitalization of $1.89 billion, a PE ratio of 35.10 and a beta of 0.99. UFP Technologies, Inc. has a 12 month low of $152.43 and a 12 month high of $366.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The company's 50-day moving average is $298.06 and its two-hundred day moving average is $301.45.

Insider Transactions at UFP Technologies

In other news, Director Cynthia L. Feldmann sold 647 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $352.30, for a total transaction of $227,938.10. Following the transaction, the director now owns 4,049 shares of the company's stock, valued at $1,426,462.70. This represents a 13.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jason Holt sold 146 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $342.69, for a total value of $50,032.74. Following the completion of the sale, the vice president now owns 6,721 shares of the company's stock, valued at approximately $2,303,219.49. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,326 shares of company stock valued at $4,620,154. Corporate insiders own 6.17% of the company's stock.

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.