Laurus Investment Counsel Inc. Sells 950 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Laurus Investment Counsel Inc. cut its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,260 shares of the industrial products company's stock after selling 950 shares during the quarter. Laurus Investment Counsel Inc. owned 0.07% of UFP Technologies worth $1,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP increased its stake in UFP Technologies by 65.4% in the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company's stock valued at $133,188,000 after acquiring an additional 166,262 shares during the period. State Street Corp increased its stake in UFP Technologies by 1.4% in the third quarter. State Street Corp now owns 283,460 shares of the industrial products company's stock valued at $89,772,000 after acquiring an additional 4,007 shares during the period. Congress Asset Management Co. increased its stake in UFP Technologies by 0.4% in the third quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company's stock valued at $78,004,000 after acquiring an additional 986 shares during the period. Geode Capital Management LLC increased its stake in UFP Technologies by 2.0% in the third quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company's stock valued at $54,799,000 after acquiring an additional 3,333 shares during the period. Finally, Mountain Pacific Investment Advisers LLC grew its stake in UFP Technologies by 0.4% during the fourth quarter. Mountain Pacific Investment Advisers LLC now owns 93,316 shares of the industrial products company's stock worth $22,817,000 after buying an additional 340 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

Insider Activity

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of UFP Technologies stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total transaction of $4,342,183.18. Following the completion of the sale, the chief executive officer now owns 31,194 shares of the company's stock, valued at approximately $10,807,473.24. The trade was a 28.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia L. Feldmann sold 647 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $352.30, for a total transaction of $227,938.10. Following the completion of the transaction, the director now directly owns 4,049 shares of the company's stock, valued at $1,426,462.70. This trade represents a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,326 shares of company stock valued at $4,620,154 over the last three months. 6.17% of the stock is owned by insiders.

UFP Technologies Price Performance

UFP Technologies stock traded up $3.67 during trading hours on Wednesday, hitting $283.41. 75,699 shares of the stock were exchanged, compared to its average volume of 99,417. UFP Technologies, Inc. has a 12 month low of $167.71 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 business's 50-day moving average is $266.63 and its two-hundred day moving average is $297.19. The stock has a market capitalization of $2.17 billion, a P/E ratio of 40.61 and a beta of 1.04.

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.