Victory Capital Management Inc. Trims Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Victory Capital Management Inc. cut its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,091 shares of the industrial products company's stock after selling 6,466 shares during the period. Victory Capital Management Inc. owned 0.79% of UFP Technologies worth $10,338,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UFPT. Mountain Pacific Investment Advisers Inc. ID grew its stake in UFP Technologies by 46.0% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 70,360 shares of the industrial products company's stock worth $12,105,000 after buying an additional 22,163 shares in the last quarter. Peterson Wealth Services purchased a new position in UFP Technologies in the fourth quarter worth $204,000. Charles Schwab Investment Management Inc. increased its stake in UFP Technologies by 193.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,070 shares of the industrial products company's stock valued at $9,214,000 after acquiring an additional 37,590 shares during the last quarter. EFG Asset Management North America Corp. bought a new position in UFP Technologies in the third quarter valued at $1,196,000. Finally, Teachers Retirement System of The State of Kentucky increased its stake in UFP Technologies by 112.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 2,340 shares of the industrial products company's stock valued at $378,000 after acquiring an additional 1,240 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

Insider Buying and Selling at UFP Technologies

In other news, VP Steve Cardin sold 311 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total transaction of $61,111.50. Following the completion of the sale, the vice president now directly owns 5,643 shares in the company, valued at $1,108,849.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Christopher P. Litterio sold 2,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $208.65, for a total transaction of $417,300.00. Following the completion of the sale, the senior vice president now directly owns 14,334 shares in the company, valued at $2,990,789.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Steve Cardin sold 311 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total transaction of $61,111.50. Following the completion of the transaction, the vice president now directly owns 5,643 shares of the company's stock, valued at $1,108,849.50. The disclosure for this sale can be found here. Insiders sold a total of 31,125 shares of company stock worth $6,511,420 over the last three months. Company insiders own 7.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on UFPT shares. StockNews.com raised UFP Technologies from a "sell" rating to a "hold" rating in a research note on Thursday, February 22nd. CJS Securities started coverage on UFP Technologies in a research note on Wednesday, March 20th. They issued an "outperform" rating and a $255.00 target price on the stock. Finally, KeyCorp started coverage on UFP Technologies in a research note on Tuesday, February 6th. They issued a "sector weight" rating on the stock.

UFP Technologies Trading Down 0.5 %

NASDAQ UFPT traded down $1.22 during trading on Monday, hitting $259.21. 30,400 shares of the company's stock traded hands, compared to its average volume of 64,255. The stock has a fifty day moving average of $229.53 and a two-hundred day moving average of $192.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.48 and a quick ratio of 1.28. UFP Technologies, Inc. has a 12-month low of $127.29 and a 12-month high of $268.34. The firm has a market cap of $1.99 billion, a P/E ratio of 41.67 and a beta of 0.90.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.41. UFP Technologies had a net margin of 11.75% and a return on equity of 17.75%. The business had revenue of $101.50 million during the quarter, compared to analyst estimates of $94.80 million. As a group, sell-side analysts expect that UFP Technologies, Inc. will post 6.19 EPS for the current year.

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.