Victory Capital Management Inc. Sells 5,551 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Victory Capital Management Inc. decreased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,924 shares of the industrial products company’s stock after selling 5,551 shares during the period. Victory Capital Management Inc.’s holdings in UFP Technologies were worth $13,437,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rothschild Investment LLC bought a new position in shares of UFP Technologies during the 2nd quarter valued at about $195,000. Kings Path Partners LLC purchased a new stake in UFP Technologies in the second quarter worth approximately $1,798,000. Millington Financial Advisors LLC grew its position in UFP Technologies by 0.4% during the second quarter. Millington Financial Advisors LLC now owns 12,737 shares of the industrial products company’s stock valued at $3,361,000 after acquiring an additional 51 shares during the last quarter. Legato Capital Management LLC raised its stake in shares of UFP Technologies by 1.0% during the second quarter. Legato Capital Management LLC now owns 38,660 shares of the industrial products company’s stock worth $10,201,000 after acquiring an additional 377 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of UFP Technologies by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,877 shares of the industrial products company’s stock valued at $13,953,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at UFP Technologies

In other news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the completion of the sale, the chief financial officer now directly owns 46,130 shares in the company, valued at $13,915,114.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the completion of the sale, the chief financial officer now directly owns 46,130 shares of the company’s stock, valued at approximately $13,915,114.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ronald J. Lataille sold 1,598 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $319.37, for a total transaction of $510,353.26. Following the transaction, the chief financial officer now owns 57,596 shares in the company, valued at approximately $18,394,434.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,134 shares of company stock worth $21,494,247. 6.17% of the stock is currently owned by company insiders.

UFP Technologies Price Performance

UFPT opened at $317.79 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $318.17 and its 200 day simple moving average is $268.21. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 51.09 and a beta of 0.94. UFP Technologies, Inc. has a 1 year low of $127.29 and a 1 year high of $341.23.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The firm had revenue of $110.18 million for the quarter.

UFP Technologies 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.