UFP Technologies (NASDAQ:UFPT) Shares Down 5.6% – What’s Next?

UFP Technologies, Inc. (NASDAQ:UFPT)’s share price was down 5.6% on Monday . The stock traded as low as $235.83 and last traded at $239.21. Approximately 56,656 shares were traded during trading, a decline of 33% from the average daily volume of 84,710 shares. The stock had previously closed at $253.30.

Analysts Set New Price Targets

A number of brokerages have issued reports on UFPT. Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the company a “buy” rating in a research note on Wednesday, May 7th. Raymond James began coverage on shares of UFP Technologies in a report on Friday, March 28th. They set a “market perform” rating for the company. Finally, StockNews.com downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

UFP Technologies Trading Down 4.9%

The firm has a market capitalization of $1.86 billion, a P/E ratio of 34.37 and a beta of 1.10. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $211.73 and its 200-day simple moving average is $249.46.

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

Insider Buying and Selling

In other news, SVP Christopher P. Litterio sold 1,473 shares of the stock in a transaction dated Thursday, May 8th. The stock was 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 trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total value of $1,563,694.86. Following the completion of the sale, the director now directly owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UFPT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UFP Technologies by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock worth $2,593,000 after purchasing an additional 1,327 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of UFP Technologies in the 1st quarter worth approximately $172,000. Uniplan Investment Counsel Inc. lifted its holdings in shares of UFP Technologies by 1.4% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 23,435 shares of the industrial products company’s stock valued at $4,727,000 after buying an additional 318 shares during the period. Millennium Management LLC lifted its position in UFP Technologies by 123.1% during the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock valued at $18,915,000 after purchasing an additional 51,741 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of UFP Technologies by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock valued at $873,000 after purchasing an additional 190 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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.