UFP Technologies (NASDAQ:UFPT) Stock Price Down 5.6% – Here’s Why

UFP Technologies, Inc. (NASDAQ:UFPT) shares traded down 5.6% on Monday . The company traded as low as $235.83 and last traded at $239.21. 56,656 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 84,710 shares. The stock had previously closed at $253.30.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Raymond James initiated coverage on UFP Technologies in a report on Friday, March 28th. They issued a “market perform” rating on the stock. StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Finally, Lake Street Capital set a $252.00 target price on UFP Technologies and gave the stock a “buy” rating in a report on Wednesday, May 7th.

UFP Technologies Stock Performance

The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 34.14 and a beta of 1.10. 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 50-day simple moving average of $212.97 and a 200-day simple moving average of $249.18.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.42. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The firm had revenue of $148.15 million during the quarter, compared to analyst estimates of $139.93 million.

Insider Buying and Selling

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher P. Litterio sold 1,473 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total value of $324,236.76. Following the completion of the sale, the senior vice president now owns 12,585 shares in the company, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of UFPT. Arete Wealth Advisors LLC increased its stake in UFP Technologies by 5.4% in the 4th quarter. Arete Wealth Advisors LLC now owns 958 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 49 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of UFP Technologies by 1.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company’s stock worth $1,041,000 after acquiring an additional 52 shares in the last quarter. Comerica Bank lifted its position in shares of UFP Technologies by 2.1% in the 1st quarter. Comerica Bank now owns 2,862 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 58 shares in the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in UFP Technologies by 2.0% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 3,088 shares of the industrial products company’s stock worth $623,000 after purchasing an additional 62 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in UFP Technologies by 24.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 66 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors.

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.