Shares of UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) rose 2.5% during trading on Wednesday . The stock traded as high as $247.91 and last traded at $247.91. Approximately 20,248 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 70,498 shares. The stock had previously closed at $241.92.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Tuesday.
Read Our Latest Analysis on UFP Technologies
UFP Technologies Price Performance
The company's 50 day simple moving average is $284.34 and its two-hundred day simple moving average is $301.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock has a market capitalization of $1.93 billion, a P/E ratio of 35.81 and a beta of 1.04.
Insider Activity
In related news, VP Jason Holt sold 146 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was 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 in the company, valued at approximately $2,303,219.49. This represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Cynthia L. Feldmann sold 647 shares of the firm's stock in a transaction dated 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 owns 4,049 shares in the company, valued at approximately $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 90 days. 6.17% of the stock is owned by company insiders.
Institutional Trading of UFP Technologies
A number of hedge funds have recently modified their holdings of UFPT. Arizona State Retirement System raised its holdings in UFP Technologies by 1.9% in the second quarter. Arizona State Retirement System now owns 2,032 shares of the industrial products company's stock worth $536,000 after purchasing an additional 38 shares during the period. Los Angeles Capital Management LLC acquired a new stake in UFP Technologies during the 2nd quarter worth $1,530,000. American Century Companies Inc. lifted its holdings in UFP Technologies by 16.7% during the second quarter. American Century Companies Inc. now owns 9,212 shares of the industrial products company's stock worth $2,431,000 after acquiring an additional 1,320 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in UFP Technologies by 94.6% in the second quarter. Envestnet Asset Management Inc. now owns 12,401 shares of the industrial products company's stock valued at $3,272,000 after acquiring an additional 6,027 shares during the period. Finally, Inspire Advisors LLC increased its holdings in shares of UFP Technologies by 40.1% in the second quarter. Inspire Advisors LLC now owns 1,844 shares of the industrial products company's stock worth $487,000 after acquiring an additional 528 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.
About UFP Technologies
(
Get Free Report)
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.
Further Reading
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