UFP Technologies (NASDAQ:UFPT) Sees Large Volume Increase - Here's Why

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 160,081 shares changed hands during mid-day trading, an increase of 83% from the previous session's volume of 87,704 shares.The stock last traded at $227.69 and had previously closed at $233.24.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UFPT. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th. Raymond James assumed coverage on shares of UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating on the stock.

UFP Technologies Price Performance

The company's 50-day moving average is $217.23 and its 200-day moving average is $242.87. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 34.08 and a beta of 1.10. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.42. The firm had revenue of $148.15 million for the quarter, compared to analysts' expectations of $139.93 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insiders Place Their Bets

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $220.12, for a total transaction of $324,236.76. Following the sale, the senior vice president now directly owns 12,585 shares of the company's stock, valued at approximately $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UFPT. American Century Companies Inc. increased its position in UFP Technologies by 1,858.2% in the 1st quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock valued at $58,010,000 after acquiring an additional 272,902 shares during the period. Wasatch Advisors LP grew its stake in shares of UFP Technologies by 37.1% in the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after purchasing an additional 156,142 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in UFP Technologies in the fourth quarter valued at $26,395,000. Raymond James Financial Inc. bought a new position in UFP Technologies during the 4th quarter worth $16,808,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in UFP Technologies by 55.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company's stock worth $43,625,000 after buying an additional 63,899 shares during the period. Institutional investors own 87.28% of the company's stock.

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.