US Bancorp DE Sells 423 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

US Bancorp DE lessened its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 16.0% in the third quarter, HoldingsChannel reports. The firm owned 2,216 shares of the industrial products company’s stock after selling 423 shares during the quarter. US Bancorp DE’s holdings in UFP Technologies were worth $702,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new position in UFP Technologies in the first quarter worth $25,220,000. Price T Rowe Associates Inc. MD increased its stake in shares of UFP Technologies by 2,331.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after acquiring an additional 41,360 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in UFP Technologies by 83.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after acquiring an additional 33,806 shares during the period. Scout Investments Inc. purchased a new position in UFP Technologies during the 1st quarter valued at about $5,778,000. Finally, Millennium Management LLC boosted its stake in UFP Technologies by 78.8% during the second quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock worth $7,047,000 after acquiring an additional 11,767 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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.

Insider Buying and Selling

In related news, CEO R Jeffrey Bailly sold 1,083 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total transaction of $336,119.88. Following the sale, the chief executive officer now directly owns 139,341 shares of the company’s stock, valued at approximately $43,245,872.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Cynthia L. Feldmann sold 647 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $352.30, for a total value of $227,938.10. Following the completion of the transaction, the director now directly owns 4,049 shares in the company, valued at $1,426,462.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Jeffrey Bailly sold 1,083 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the transaction, the chief executive officer now directly owns 139,341 shares in the company, valued at $43,245,872.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,830 shares of company stock worth $14,373,135 in the last quarter. Corporate insiders own 6.17% of the company’s stock.

UFP Technologies Trading Down 0.4 %

NASDAQ UFPT opened at $344.86 on Friday. UFP Technologies, Inc. has a 12 month low of $133.99 and a 12 month high of $366.41. The company has a current ratio of 2.56, a quick ratio of 1.63 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $310.32 and its 200-day moving average price is $292.21. The stock has a market cap of $2.65 billion, a P/E ratio of 49.20 and a beta of 0.96.

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.