UFP Technologies (NASDAQ:UFPT) Shares Down 4.3% - Here's Why

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report)'s share price dropped 4.3% on Friday . The company traded as low as $205.00 and last traded at $203.26. Approximately 78,600 shares changed hands during trading, a decline of 2% from the average daily volume of 80,440 shares. The stock had previously closed at $212.33.

Wall Street Analysts Forecast Growth

UFPT has been the subject of a number of research reports. StockNews.com cut shares of UFP Technologies from a "hold" rating to a "sell" rating in a report on Thursday, January 23rd. Raymond James initiated coverage on UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock. Finally, Lake Street Capital set a $252.00 price objective on shares of UFP Technologies and gave the stock a "buy" rating in a report on Wednesday.

UFP Technologies Price Performance

The stock has a market capitalization of $1.80 billion, a PE ratio of 33.27 and a beta of 1.10. The business has a fifty day moving average price of $207.97 and a 200-day moving average price of $251.59. 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 announced its quarterly 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 company had revenue of $148.15 million for the quarter, compared to the consensus estimate of $139.93 million. UFP Technologies had a return on equity of 18.92% and a net margin of 11.74%.

Insider Transactions at UFP Technologies

In related news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the sale, the director now directly owns 1,785 shares of the company's stock, valued at $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.17% of the company's stock.

Institutional Investors Weigh In On UFP Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vestcor Inc boosted its holdings in shares of UFP Technologies by 309.6% in the 1st quarter. Vestcor Inc now owns 4,526 shares of the industrial products company's stock worth $913,000 after purchasing an additional 3,421 shares during the period. XTX Topco Ltd bought a new position in UFP Technologies in the first quarter worth about $464,000. De Lisle Partners LLP raised its position in shares of UFP Technologies by 17.9% in the 1st quarter. De Lisle Partners LLP now owns 79,802 shares of the industrial products company's stock valued at $16,114,000 after purchasing an additional 12,129 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of UFP Technologies during the first quarter worth $690,000. Finally, Fiera Capital Corp boosted its holdings in UFP Technologies by 12.5% during the first quarter. Fiera Capital Corp now owns 46,105 shares of the industrial products company's stock worth $9,300,000 after buying an additional 5,105 shares in the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

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.