Lord Abbett & CO. LLC Sells 16,880 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Lord Abbett & CO. LLC decreased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,800 shares of the industrial products company’s stock after selling 16,880 shares during the quarter. Lord Abbett & CO. LLC owned about 0.83% of UFP Technologies worth $20,206,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in UFP Technologies by 144.8% during the third quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock worth $5,136,000 after buying an additional 9,593 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in UFP Technologies by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock worth $21,250,000 after purchasing an additional 2,842 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of UFP Technologies during the third quarter valued at approximately $1,176,000. Eagle Asset Management Inc. bought a new position in shares of UFP Technologies during the third quarter valued at approximately $9,791,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of UFP Technologies by 217.2% in the third quarter. BNP Paribas Financial Markets now owns 7,842 shares of the industrial products company’s stock worth $2,484,000 after buying an additional 5,370 shares during the period. Institutional investors own 87.28% of the company’s stock.

Insider Transactions at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $346.46, for a total value of $4,342,183.18. Following the completion of the sale, the chief executive officer now directly owns 31,194 shares in the company, valued at approximately $10,807,473.24. This represents a 28.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the vice president now owns 6,721 shares in the company, valued at approximately $2,303,219.49. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,326 shares of company stock valued at $4,620,154. 6.17% of the stock is currently owned by company insiders.

UFP Technologies Stock Down 3.9 %

NASDAQ:UFPT opened at $258.62 on Monday. The company has a market cap of $1.98 billion, a price-to-earnings ratio of 36.89 and a beta of 0.99. UFP Technologies, Inc. has a twelve month low of $152.43 and a twelve month high of $366.41. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $300.47 and a 200-day simple moving average of $302.02.

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.