Insider Selling: UFP Technologies (NASDAQ:UFPT) Director Sells $634,977.44 in Stock

UFP Technologies, Inc. (NASDAQ:UFPT) Director Daniel Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the sale, the director directly owned 855 shares in the company, valued at $189,562.05. This trade represents a 77.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

UFP Technologies Trading Down 3.2%

Shares of UFP Technologies stock opened at $213.95 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of 24.28 and a beta of 1.08. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $201.74 and its 200 day moving average is $222.21. UFP Technologies, Inc. has a 1 year low of $173.86 and a 1 year high of $274.93.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings results on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.30. The company had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. Equities research analysts forecast that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Institutional Trading of UFP Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of UFP Technologies by 60.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock worth $37,115,000 after purchasing an additional 62,472 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of UFP Technologies by 20.7% during the third quarter. Public Sector Pension Investment Board now owns 30,119 shares of the industrial products company’s stock worth $6,012,000 after purchasing an additional 5,174 shares during the last quarter. Applied Fundamental Research LLC grew its holdings in shares of UFP Technologies by 23.6% during the third quarter. Applied Fundamental Research LLC now owns 48,753 shares of the industrial products company’s stock worth $9,731,000 after purchasing an additional 9,314 shares during the last quarter. Congress Asset Management Co. grew its holdings in shares of UFP Technologies by 32.4% during the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock worth $97,942,000 after purchasing an additional 107,908 shares during the last quarter. Finally, First National Bank of Omaha acquired a new position in shares of UFP Technologies in the third quarter worth approximately $2,082,000. 87.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, UFP Technologies currently has an average rating of “Hold” and a consensus price target of $289.00.

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.