Insider Selling: UFP Technologies (NASDAQ:UFPT) Chairman Sells $3,403,605.66 in Stock

UFP Technologies, Inc. (NASDAQ:UFPT) Chairman R Jeffrey Bailly sold 10,682 shares of UFP Technologies stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $318.63, for a total value of $3,403,605.66. Following the transaction, the chairman directly owned 18,024 shares of the company’s stock, valued at approximately $5,742,987.12. The trade was a 37.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

R Jeffrey Bailly also recently made the following trade(s):

• On Friday, August 7th, R Jeffrey Bailly sold 5,013 shares of UFP Technologies stock. The stock was sold at an average price of $317.87, for a total transaction of $1,593,482.31.

UFP Technologies Trading Up 0.2%

Shares of UFPT stock opened at $322.46 on Thursday. The company has a market capitalization of $2.50 billion, a P/E ratio of 34.75 and a beta of 1.08. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $338.71. The company has a quick ratio of 1.72, a current ratio of 3.00 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $256.57 and a 200 day moving average price of $231.34.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings data on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.61. The company had revenue of $173.96 million during the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. Research analysts forecast that UFP Technologies, Inc. will post 10.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

UFPT has been the subject of a number of research reports. Wall Street Zen upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On UFP Technologies

Several large investors have recently made changes to their positions in UFPT. Northwestern Mutual Wealth Management Co. bought a new position in UFP Technologies in the second quarter valued at about $565,000. Quantbot Technologies LP bought a new stake in UFP Technologies during the 2nd quarter worth about $253,000. De Lisle Partners LLP acquired a new position in UFP Technologies during the 2nd quarter valued at about $19,677,000. Keebeck Wealth Management acquired a new position in UFP Technologies during the 2nd quarter valued at about $595,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new position in shares of UFP Technologies in the 2nd quarter valued at about $1,982,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.