UFP Technologies (NASDAQ:UFPT) Sees Large Volume Increase – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT) saw unusually-strong trading volume on Tuesday . Approximately 33,591 shares traded hands during trading, a decline of 44% from the previous session’s volume of 59,491 shares.The stock last traded at $327.06 and had previously closed at $277.62.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

UFP Technologies Stock Up 22.1 %

The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. The stock has a 50-day simple moving average of $309.89 and a two-hundred day simple moving average of $289.13. The firm has a market cap of $2.60 billion, a PE ratio of 49.80 and a beta of 0.96.

Insider Activity at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the sale, the chief executive officer now owns 139,341 shares of the company’s stock, valued at $43,245,872.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ronald J. Lataille sold 4,798 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total value of $1,585,451.12. Following the completion of the sale, the chief financial officer now owns 41,332 shares of the company’s stock, valued at approximately $13,657,746.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R Jeffrey Bailly sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $310.36, for a total value of $336,119.88. Following the transaction, the chief executive officer now owns 139,341 shares in the company, valued at approximately $43,245,872.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,070 shares of company stock valued at $17,525,175. Corporate insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

A number of institutional investors have recently made changes to their positions in UFPT. Swedbank AB bought a new stake in shares of UFP Technologies in the first quarter worth about $25,220,000. Price T Rowe Associates Inc. MD boosted its stake in shares of UFP Technologies by 2,331.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after purchasing an additional 41,360 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of UFP Technologies by 83.1% during the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after buying an additional 33,806 shares during the period. Vanguard Group Inc. raised its stake in UFP Technologies by 5.2% in the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after buying an additional 26,269 shares in the last quarter. Finally, Scout Investments Inc. purchased a new stake in UFP Technologies in the first quarter worth about $5,778,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

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.