By otakuyassine3@gmail.com 
UFP Technologies (NASDAQ:UFPT – Get Free Report) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
UFP Technologies Stock Performance
Shares of NASDAQ UFPT traded up $7.72 during trading hours on Wednesday, reaching $254.79. 203,580 shares of the stock were exchanged, compared to its average volume of 101,853. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 36.35 and a beta of 1.04. The stock’s fifty day simple moving average is $278.88 and its 200 day simple moving average is $300.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. UFP Technologies has a 52 week low of $152.43 and a 52 week high of $366.41.
Insider Transactions at UFP Technologies
In related news, CEO R Jeffrey Bailly sold 12,533 shares of the business’s 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 directly owns 31,194 shares in the company, valued at approximately $10,807,473.24. The trade was a 28.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jason Holt sold 146 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $342.69, for a total value of $50,032.74. Following the transaction, the vice president now owns 6,721 shares in the company, valued at approximately $2,303,219.49. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,326 shares of company stock valued at $4,620,154. 6.17% of the stock is currently owned by corporate insiders.
Institutional Trading of UFP Technologies
Institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP raised its stake in UFP Technologies by 65.4% in the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock valued at $133,188,000 after purchasing an additional 166,262 shares in the last quarter. State Street Corp increased its holdings in UFP Technologies by 1.4% in the 3rd quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after buying an additional 4,007 shares during the period. Congress Asset Management Co. raised its position in shares of UFP Technologies by 0.4% in the 3rd quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company’s stock valued at $78,004,000 after buying an additional 986 shares in the last quarter. Geode Capital Management LLC raised its position in shares of UFP Technologies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 172,996 shares of the industrial products company’s stock valued at $54,799,000 after buying an additional 3,333 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of UFP Technologies by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock worth $27,737,000 after acquiring an additional 2,699 shares during the period. 87.28% of the stock is currently owned by institutional investors.
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.
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