UFP Technologies (NASDAQ:UFPT) Hits New 1-Year High at $341.23

UFP Technologies, Inc. (NASDAQ:UFPT)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $341.23 and last traded at $341.23, with a volume of 32240 shares changing hands. The stock had previously closed at $334.29.

Analyst Upgrades and Downgrades

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

UFP Technologies Stock Performance

The firm has a market capitalization of $2.62 billion, a P/E ratio of 54.86 and a beta of 0.95. 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 firm has a 50-day moving average price of $309.37 and a two-hundred day moving average price of $260.52.

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

Insider Buying and Selling

In other UFP Technologies news, CEO R Jeffrey Bailly sold 10,887 shares of UFP Technologies stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the completion of the sale, the chief executive officer now directly owns 143,970 shares of the company’s stock, valued at approximately $44,696,926.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 1,598 shares of the firm’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 of the company’s stock, valued at approximately $18,394,434.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R Jeffrey Bailly sold 10,887 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the completion of the sale, the chief executive officer now owns 143,970 shares of the company’s stock, valued at approximately $44,696,926.20. The disclosure for this sale can be found here. Insiders have sold a total of 68,134 shares of company stock valued at $21,494,247 over the last quarter. 6.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UFP Technologies

Institutional investors have recently bought and sold shares of the business. Congress Asset Management Co. MA boosted its position in UFP Technologies by 174.1% during the 1st quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock valued at $46,893,000 after acquiring an additional 118,106 shares in the last quarter. Swedbank AB bought a new position in UFP Technologies in the first quarter worth about $25,220,000. Price T Rowe Associates Inc. MD lifted its position in shares of UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after buying an additional 41,360 shares during the last quarter. Geneva Capital Management LLC boosted its holdings in shares of UFP Technologies by 72.5% in the 4th quarter. Geneva Capital Management LLC now owns 82,385 shares of the industrial products company’s stock valued at $14,174,000 after buying an additional 34,622 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of UFP Technologies by 83.1% in 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 buying an additional 33,806 shares in the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

About UFP Technologies

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.