UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,157 shares of the industrial products company’s stock after selling 40 shares during the quarter. Amalgamated Bank’s holdings in UFP Technologies were worth $569,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of UFPT. Congress Asset Management Co. MA grew its position in shares of UFP Technologies by 174.1% in the 1st quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock valued at $46,893,000 after buying an additional 118,106 shares during the last quarter. Swedbank AB purchased a new position in shares of UFP Technologies in the 1st quarter valued at $25,220,000. Price T Rowe Associates Inc. MD grew its position in shares of UFP Technologies by 2,331.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after buying an additional 41,360 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of UFP Technologies by 83.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after buying an additional 33,806 shares during the last quarter. Finally, Norden Group LLC grew its position in shares of UFP Technologies by 1,464.8% in the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock valued at $7,920,000 after buying an additional 29,398 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other institutional investors.

UFP Technologies Stock Up 0.4 %

Shares of NASDAQ:UFPT opened at $323.81 on Friday. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 52.06 and a beta of 0.94. The firm’s 50-day simple moving average is $323.58 and its 200-day simple moving average is $277.20. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.14. UFP Technologies, Inc. has a fifty-two week low of $127.29 and a fifty-two week high of $366.41.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share for the quarter. The business had revenue of $110.18 million for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th.

Insider Activity

In other news, CFO Ronald J. Lataille sold 1,598 shares of UFP Technologies stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $319.37, for a total value of $510,353.26. Following the sale, the chief financial officer now owns 57,596 shares of the company’s stock, valued at $18,394,434.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Ronald J. Lataille sold 1,598 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $319.37, for a total value of $510,353.26. Following the completion of the sale, the chief financial officer now owns 57,596 shares in the company, valued at $18,394,434.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R Jeffrey Bailly sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total transaction of $336,119.88. Following the completion of the sale, the chief executive officer now owns 139,341 shares of the company’s stock, valued at approximately $43,245,872.76. The disclosure for this sale can be found here. Insiders have sold a total of 68,134 shares of company stock valued at $21,494,247 over the last quarter. Corporate insiders own 6.17% of the company’s stock.

UFP Technologies 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.