UFP Technologies (NASDAQ:UFPT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of UFP Technologies (NASDAQ:UFPT) from a sell rating to a hold rating in a report released on Tuesday.

UFP Technologies Stock Down 0.2 %

NASDAQ UFPT opened at $252.00 on Tuesday. UFP Technologies has a twelve month low of $152.43 and a twelve month high of $366.41. The stock has a market cap of $1.93 billion, a PE ratio of 35.95 and a beta of 0.99. The firm has a 50-day simple moving average of $294.45 and a 200 day simple moving average of $301.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57.

Insider Activity

In related news, CEO R Jeffrey Bailly sold 12,533 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total value of $4,342,183.18. Following the sale, the chief executive officer now owns 31,194 shares of the company’s stock, valued at $10,807,473.24. The trade was a 28.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jason Holt sold 146 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $342.69, for a total transaction of $50,032.74. Following the completion of the transaction, the vice president now directly owns 6,721 shares of the company’s stock, valued at $2,303,219.49. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,326 shares of company stock worth $4,620,154. Company insiders own 6.17% of the company’s stock.

Hedge Funds Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently modified their holdings of UFPT. Wasatch Advisors LP grew its stake in UFP Technologies by 65.4% during the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after buying an additional 166,262 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of UFP Technologies in the 3rd quarter worth approximately $9,791,000. Franklin Resources Inc. grew its position in UFP Technologies by 39.4% during the 3rd quarter. Franklin Resources Inc. now owns 92,053 shares of the industrial products company’s stock worth $28,904,000 after acquiring an additional 26,001 shares during the last quarter. De Lisle Partners LLP increased its holdings in UFP Technologies by 30.6% during the 3rd quarter. De Lisle Partners LLP now owns 66,573 shares of the industrial products company’s stock valued at $21,070,000 after purchasing an additional 15,603 shares in the last quarter. Finally, Millennium Management LLC raised its position in UFP Technologies by 78.8% in the 2nd quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock valued at $7,047,000 after purchasing an additional 11,767 shares during the last quarter. Institutional investors own 87.28% of the company’s stock.

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.