Bank of New York Mellon Corp Increases Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Bank of New York Mellon Corp raised its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 96.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,333 shares of the industrial products company’s stock after purchasing an additional 29,192 shares during the period. Bank of New York Mellon Corp owned approximately 0.78% of UFP Technologies worth $11,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. purchased a new position in shares of UFP Technologies during the 4th quarter valued at about $34,000. Point72 Asset Management L.P. purchased a new position in shares of UFP Technologies during the 4th quarter valued at about $43,000. Citigroup Inc. raised its holdings in shares of UFP Technologies by 121.3% during the 4th quarter. Citigroup Inc. now owns 394 shares of the industrial products company’s stock valued at $46,000 after buying an additional 216 shares in the last quarter. KBC Group NV purchased a new position in shares of UFP Technologies during the 2nd quarter valued at about $93,000. Finally, Lazard Asset Management LLC grew its holdings in shares of UFP Technologies by 32.2% during the 4th quarter. Lazard Asset Management LLC now owns 566 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 138 shares during the last quarter. Institutional investors own 84.57% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 3rd.

Insider Activity at UFP Technologies

In related news, CEO R Jeffrey Bailly sold 1,874 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $176.06, for a total transaction of $329,936.44. Following the completion of the sale, the chief executive officer now directly owns 91,554 shares in the company, valued at approximately $16,118,997.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other UFP Technologies news, VP Mitchell Rock purchased 198 shares of UFP Technologies stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $139.00 per share, for a total transaction of $27,522.00. Following the acquisition, the vice president now directly owns 27,086 shares in the company, valued at $3,764,954. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Jeffrey Bailly sold 1,874 shares of UFP Technologies stock in a transaction on Friday, September 1st. The shares were sold at an average price of $176.06, for a total transaction of $329,936.44. Following the completion of the sale, the chief executive officer now owns 91,554 shares in the company, valued at approximately $16,118,997.24. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by company insiders.

UFP Technologies Trading Up 2.7 %

NASDAQ:UFPT opened at $157.14 on Friday. The company has a fifty day moving average of $154.77 and a 200 day moving average of $166.67. UFP Technologies, Inc. has a 52 week low of $103.64 and a 52 week high of $205.08. The company has a quick ratio of 1.25, a current ratio of 2.48 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.20 billion, a P/E ratio of 28.89 and a beta of 0.87.

UFP Technologies Profile

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.