2,219 Shares in UFP Technologies, Inc. (NASDAQ:UFPT) Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in UFP Technologies, Inc. (NASDAQ:UFPT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,219 shares of the industrial products company’s stock, valued at approximately $585,000.

Several other institutional investors also recently modified their holdings of UFPT. Congress Asset Management Co. MA grew its stake in shares of UFP Technologies by 174.1% in the first quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock worth $46,893,000 after purchasing an additional 118,106 shares during the last quarter. Swedbank AB bought a new stake in shares of UFP Technologies in the first quarter worth $25,220,000. Price T Rowe Associates Inc. MD grew its stake in shares of UFP Technologies by 2,331.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after purchasing an additional 41,360 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of UFP Technologies by 83.1% in the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock worth $18,791,000 after purchasing an additional 33,806 shares during the last quarter. Finally, Norden Group LLC grew its stake in shares of UFP Technologies by 1,464.8% in the first quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock worth $7,920,000 after purchasing an additional 29,398 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Stock Performance

Shares of UFPT opened at $312.76 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.40 billion, a P/E ratio of 48.72 and a beta of 0.93. The firm’s fifty day simple moving average is $319.27 and its two-hundred day simple moving average is $283.50. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $366.41.

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

Insider Activity

In other news, CEO R Jeffrey Bailly sold 10,887 shares of the company’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 transaction, the chief executive officer now owns 143,970 shares in the company, valued at approximately $44,696,926.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Ronald J. Lataille sold 1,598 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO R Jeffrey Bailly sold 10,887 shares of the company’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 transaction, the chief executive officer now owns 143,970 shares in the company, valued at $44,696,926.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,134 shares of company stock worth $21,494,247. Company insiders own 6.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.