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

Shares of UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) saw an uptick in trading volume on Thursday . 115,609 shares changed hands during mid-day 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 Analysts Forecast Growth

Several research firms recently commented on UFPT. Lake Street Capital set a $252.00 target price on UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th. Raymond James initiated coverage on UFP Technologies in a report on Friday, March 28th. They set a "market perform" rating on the stock.

UFP Technologies Stock Down 2.7%

The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The firm has a market capitalization of $1.83 billion, a P/E ratio of 33.87 and a beta of 1.12. The firm's fifty day moving average price is $220.28 and its 200-day moving average price is $241.37.

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 for the quarter, topping 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 during the quarter, compared to the consensus estimate of $139.93 million.

Insider Activity

In related news, SVP Christopher P. Litterio sold 1,473 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wasatch Advisors LP boosted its stake in shares of UFP Technologies by 37.1% during the 4th quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after acquiring an additional 156,142 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of UFP Technologies by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 557,479 shares of the industrial products company's stock valued at $136,309,000 after purchasing an additional 17,356 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of 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 valued at $62,408,000 after purchasing an additional 28,070 shares during the period. American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 272,902 shares during the period. Finally, Boston Trust Walden Corp increased its stake 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 in the last quarter. Institutional investors and hedge funds 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.