Victory Capital Management Inc. Cuts Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Victory Capital Management Inc. decreased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,058 shares of the industrial products company's stock after selling 12,133 shares during the quarter. Victory Capital Management Inc. owned approximately 0.42% of UFP Technologies worth $7,839,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP increased its position in shares of UFP Technologies by 65.4% during the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company's stock valued at $133,188,000 after purchasing an additional 166,262 shares during the last quarter. State Street Corp lifted its position in UFP Technologies by 1.4% during 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 last quarter. Congress Asset Management Co. raised its holdings in shares of UFP Technologies by 14.2% in the fourth quarter. Congress Asset Management Co. now owns 281,325 shares of the industrial products company's stock worth $68,787,000 after buying an additional 35,022 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 worth $54,799,000 after buying an additional 3,333 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new position in shares of UFP Technologies during the fourth quarter worth $26,395,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

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Insider Activity

In related news, Director Daniel C. Croteau sold 6,846 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now owns 1,785 shares in the company, valued at $407,711.85. This represents a 79.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.17% of the company's stock.

Wall Street Analysts Forecast Growth

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

UFP Technologies Stock Up 0.5 %

Shares of UFPT stock traded up $1.08 during trading on Friday, reaching $210.70. The company's stock had a trading volume of 118,651 shares, compared to its average volume of 110,162. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. UFP Technologies, Inc. has a 1-year low of $188.50 and a 1-year high of $366.41. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 30.06 and a beta of 1.15. The stock's 50-day moving average price is $250.44 and its 200 day moving average price is $281.98.

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

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.