UFP Technologies (NASDAQ:UFPT) Trading Down 5.5% - Here's What Happened

Shares of UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) fell 5.5% during mid-day trading on Wednesday . The company traded as low as $252.66 and last traded at $249.13. 43,461 shares traded hands during trading, a decline of 56% from the average session volume of 98,340 shares. The stock had previously closed at $263.52.

Wall Street Analyst Weigh In

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

UFP Technologies Stock Performance

The stock's 50 day moving average price is $257.08 and its 200 day moving average price is $289.89. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 32.47 and a beta of 1.04.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The company had revenue of $144.07 million during the quarter, compared to the consensus estimate of $141.67 million.

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Institutional Investors Weigh In On UFP Technologies

Hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in UFP Technologies by 144.8% in the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 purchasing an additional 2,842 shares during the last quarter. Intech Investment Management LLC acquired a new stake in UFP Technologies in the 3rd quarter valued at about $1,176,000. Jane Street Group LLC lifted its stake in UFP Technologies by 32.2% in the 3rd quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company's stock valued at $3,668,000 after purchasing an additional 2,822 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in UFP Technologies during the third quarter worth approximately $9,791,000. 87.28% of the stock is currently owned by institutional investors and hedge funds.

UFP Technologies Company Profile

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.