UFP Technologies (NASDAQ:UFPT) Sees Unusually-High Trading Volume - Here's Why

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 160,081 shares traded hands during 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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UFPT shares. Raymond James started coverage on UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating on the stock. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th.

UFP Technologies Stock Up 0.5%

The stock has a 50 day moving average price of $216.66 and a 200-day moving average price of $243.31. The stock has a market capitalization of $1.81 billion, a P/E ratio of 33.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its quarterly earnings data 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. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%. The firm had revenue of $148.15 million for the quarter, compared to analysts' expectations of $139.93 million.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of the firm's 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 transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.40% of the company's stock.

Institutional Trading of UFP Technologies

Large investors have recently modified their holdings of the business. AlphaQuest LLC bought a new stake in shares of UFP Technologies in the fourth quarter worth about $25,000. Johnson Financial Group Inc. bought a new stake in shares of UFP Technologies in the fourth quarter worth about $42,000. Venturi Wealth Management LLC bought a new stake in shares of UFP Technologies in the fourth quarter worth about $74,000. State of Wyoming grew its stake in shares of UFP Technologies by 34.7% in the first quarter. State of Wyoming now owns 365 shares of the industrial products company's stock worth $74,000 after purchasing an additional 94 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of UFP Technologies by 24.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock worth $81,000 after purchasing an additional 66 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

UFP Technologies Company 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.