UFP Technologies (NASDAQ:UFPT) Shares Down 3.2% Following Insider Selling

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price traded down 3.2% on Friday after an insider sold shares in the company. The stock traded as low as $170.01 and last traded at $170.01. 19,331 shares traded hands during trading, a decline of 79% from the average session volume of 92,685 shares. The stock had previously closed at $175.71.

Specifically, CEO R Jeffrey Bailly sold 4,845 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $177.52, for a total value of $860,084.40. Following the transaction, the chief executive officer now directly owns 105,084 shares of the company’s stock, valued at $18,654,511.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on UFPT shares. Lake Street Capital raised their price objective on UFP Technologies from $171.00 to $222.00 in a research note on Monday, June 26th. StockNews.com raised UFP Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th.

UFP Technologies Price Performance

The firm has a 50 day moving average price of $182.81 and a 200 day moving average price of $154.64. The company has a quick ratio of 1.40, a current ratio of 2.59 and a debt-to-equity ratio of 0.20. The stock has a market cap of $1.34 billion, a P/E ratio of 27.07 and a beta of 0.84.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $100.04 million for the quarter. UFP Technologies had a return on equity of 23.30% and a net margin of 12.86%.

Institutional Trading of UFP Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Portside Wealth Group LLC bought a new stake in UFP Technologies during the 2nd quarter valued at approximately $3,203,000. Alberta Investment Management Corp bought a new stake in UFP Technologies in the 2nd quarter worth approximately $653,000. Osaic Holdings Inc. increased its stake in UFP Technologies by 100.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,689 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 848 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in UFP Technologies in the 2nd quarter worth approximately $213,000. Finally, Legato Capital Management LLC bought a new stake in UFP Technologies in the 2nd quarter worth approximately $7,981,000. Institutional investors own 84.57% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc designs, engineers, 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 orthopedic implants, orthopedic appliances, 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.