UFP Technologies (NASDAQ:UFPT) Downgraded by StockNews.com to “Sell”

UFP Technologies (NASDAQ:UFPT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

UFP Technologies Trading Up 3.8 %

NASDAQ UFPT opened at $251.06 on Tuesday. 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 fifty-two week low of $152.43 and a fifty-two week high of $366.41. The stock has a market cap of $1.93 billion, a P/E ratio of 35.81 and a beta of 1.04. The stock has a 50 day simple moving average of $284.34 and a two-hundred day simple moving average of $301.03.

Insider Activity at UFP Technologies

In related news, Director Cynthia L. Feldmann sold 647 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $352.30, for a total value of $227,938.10. Following the sale, the director now directly owns 4,049 shares of the company’s stock, valued at $1,426,462.70. This represents a 13.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO R Jeffrey Bailly sold 12,533 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total value of $4,342,183.18. Following the transaction, the chief executive officer now directly owns 31,194 shares of the company’s stock, valued at $10,807,473.24. This represents a 28.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,326 shares of company stock worth $4,620,154 over the last quarter. Corporate insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of UFPT. Wasatch Advisors LP lifted its position in UFP Technologies by 65.4% during the 3rd quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock valued at $133,188,000 after acquiring an additional 166,262 shares during the period. State Street Corp increased its stake in shares of UFP Technologies by 1.4% during the third quarter. State Street Corp now owns 283,460 shares of the industrial products company’s stock valued at $89,772,000 after purchasing an additional 4,007 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of UFP Technologies by 0.4% during the third quarter. Congress Asset Management Co. now owns 246,303 shares of the industrial products company’s stock valued at $78,004,000 after purchasing an additional 986 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $54,799,000 after purchasing an additional 3,333 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of UFP Technologies by 2.6% in 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 buying an additional 2,699 shares during the last quarter. 87.28% of the stock is owned by hedge funds and other 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.