UFP Technologies (NASDAQ:UFPT) Rating Lowered to "Sell" at StockNews.com

UFP Technologies (NASDAQ:UFPT - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Monday.

UFP Technologies Stock Performance

Shares of NASDAQ UFPT traded down $11.64 during midday trading on Monday, hitting $246.98. 132,862 shares of the stock traded hands, compared to its average volume of 62,026. The firm has a market capitalization of $1.90 billion, a P/E ratio of 35.23 and a beta of 0.99. UFP Technologies has a one year low of $152.43 and a one year 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 firm has a 50-day moving average of $300.47 and a two-hundred day moving average of $302.02.

Insiders Place Their Bets

In related news, Director Cynthia L. Feldmann sold 647 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the transaction, the director now directly owns 4,049 shares of the company's stock, valued at approximately $1,426,462.70. This trade represents a 13.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jason Holt sold 146 shares of the business'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 sale, the vice president now directly owns 6,721 shares of the company's stock, valued at $2,303,219.49. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,326 shares of company stock valued at $4,620,154. Insiders own 6.17% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UFPT. Wasatch Advisors LP boosted its holdings in UFP Technologies by 65.4% in the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company's stock worth $133,188,000 after buying an additional 166,262 shares during the period. Eagle Asset Management Inc. bought a new position in shares of UFP Technologies in the third quarter worth about $9,791,000. Franklin Resources Inc. grew its position in shares of UFP Technologies by 39.4% during the third quarter. Franklin Resources Inc. now owns 92,053 shares of the industrial products company's stock worth $28,904,000 after purchasing an additional 26,001 shares in the last quarter. De Lisle Partners LLP raised its stake in UFP Technologies by 30.6% during the 3rd quarter. De Lisle Partners LLP now owns 66,573 shares of the industrial products company's stock valued at $21,070,000 after purchasing an additional 15,603 shares during the period. Finally, Millennium Management LLC lifted its holdings in UFP Technologies by 78.8% in the 2nd quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company's stock worth $7,047,000 after purchasing an additional 11,767 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

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.

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