UFP Technologies (NASDAQ:UFPT) Upgraded at StockNews.com

UFP Technologies (NASDAQ:UFPT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

UFP Technologies Stock Up 3.1 %

Shares of UFPT stock traded up $7.72 during trading on Wednesday, reaching $254.79. The company’s stock had a trading volume of 203,580 shares, compared to its average volume of 101,853. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 36.35 and a beta of 1.04. UFP Technologies has a one year low of $152.43 and a one year high of $366.41. The business has a fifty day moving average price of $278.88 and a 200-day moving average price of $300.30. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

Insider Transactions at UFP Technologies

In other news, CEO R Jeffrey Bailly sold 12,533 shares of the stock in a transaction that occurred 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 owns 31,194 shares of the company’s stock, valued at approximately $10,807,473.24. This represents a 28.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jason Holt sold 146 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were 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 represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,326 shares of company stock worth $4,620,154 in the last three months. Insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

A number of large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its holdings 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 purchasing an additional 166,262 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of UFP Technologies by 340.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,304 shares of the industrial products company’s stock worth $9,610,000 after acquiring an additional 30,372 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of UFP Technologies during the 3rd quarter worth approximately $9,791,000. Franklin Resources Inc. raised its stake in UFP Technologies by 39.4% in the 3rd quarter. Franklin Resources Inc. now owns 92,053 shares of the industrial products company’s stock valued at $28,904,000 after acquiring an additional 26,001 shares during the period. Finally, De Lisle Partners LLP lifted 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 during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Company 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.