UFP Technologies (NASDAQ:UFPT) Sees Unusually-High Trading Volume - Time to Buy?

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 115,609 shares were traded during trading, an increase of 20% from the previous session's volume of 95,971 shares.The stock last traded at $238.67 and had previously closed at $240.08.

Wall Street Analyst Weigh In

UFPT has been the topic of several recent analyst reports. Lake Street Capital set a $252.00 target price on UFP Technologies and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James initiated coverage on UFP Technologies in a research note on Friday, March 28th. They set a "market perform" rating on the stock.

UFP Technologies Trading Down 2.7%

The firm has a 50 day simple moving average of $220.28 and a 200 day simple moving average of $242.22. The company has a current ratio of 2.57, a quick ratio of 1.43 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.83 billion, a PE ratio of 33.87 and a beta of 1.12.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate 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%.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of the stock in a transaction on 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 $2,770,210.20. This represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On UFP Technologies

A number of institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP raised its holdings in UFP Technologies by 37.1% in the 4th 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 period. Vanguard Group Inc. raised its holdings in UFP Technologies by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock worth $136,309,000 after purchasing an additional 17,356 shares during the period. Congress Asset Management Co. raised its holdings in UFP Technologies by 10.0% in the 1st quarter. Congress Asset Management Co. now owns 309,395 shares of the industrial products company's stock worth $62,408,000 after purchasing an additional 28,070 shares during the period. American Century Companies Inc. raised its holdings 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 worth $58,010,000 after purchasing an additional 272,902 shares during the period. Finally, Boston Trust Walden Corp raised its holdings in UFP Technologies by 98.4% in the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after purchasing an additional 106,197 shares during the period. 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.