UFP Technologies (NASDAQ:UFPT) Trading Down 4.2% – Here’s What Happened

UFP Technologies, Inc. (NASDAQ:UFPT) shares fell 4.2% during trading on Wednesday . The company traded as low as $227.20 and last traded at $225.2350. 109,886 shares were traded during mid-day trading, a decline of 17% from the average session volume of 132,996 shares. The stock had previously closed at $235.14.

Analysts Set New Price Targets

Several research firms recently weighed in on UFPT. Weiss Ratings restated a “hold (c)” rating on shares of UFP Technologies in a research note on Wednesday, October 8th. Wall Street Zen cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Zacks Research downgraded shares of UFP Technologies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, UFP Technologies has an average rating of “Hold” and an average price target of $289.00.

UFP Technologies Stock Performance

The company has a quick ratio of 1.36, a current ratio of 2.41 and a debt-to-equity ratio of 0.37. The stock has a fifty day moving average price of $220.82 and a 200-day moving average price of $219.38. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 25.73 and a beta of 1.10.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Thursday, November 9th. The industrial products company reported $1.37 earnings per share for the quarter. The firm had revenue of $96.97 million during the quarter. UFP Technologies had a return on equity of 20.45% and a net margin of 11.23%.

Insider Buying and Selling at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,829 shares of UFP Technologies stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $227.20, for a total value of $415,548.80. Following the sale, the senior vice president owned 10,756 shares of the company’s stock, valued at $2,443,763.20. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UFP Technologies

A number of hedge funds have recently added to or reduced their stakes in UFPT. Brown Capital Management LLC lifted its holdings in shares of UFP Technologies by 11.4% in the 2nd quarter. Brown Capital Management LLC now owns 170,811 shares of the industrial products company’s stock valued at $41,705,000 after buying an additional 17,493 shares during the period. Ashford Capital Management Inc. purchased a new position in UFP Technologies in the second quarter worth $17,284,000. Sowell Financial Services LLC purchased a new position in UFP Technologies in the second quarter worth $213,000. Congress Asset Management Co. lifted its holdings in UFP Technologies by 5.8% in the second quarter. Congress Asset Management Co. now owns 327,433 shares of the industrial products company’s stock valued at $79,946,000 after acquiring an additional 18,038 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of UFP Technologies by 23.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 18,206 shares of the industrial products company’s stock worth $4,445,000 after purchasing an additional 3,475 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Company Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.