UFP Technologies (NASDAQ:UFPT) Trading Down 6.6% - Here's What Happened

UFP Technologies, Inc. (NASDAQ:UFPT - Get Free Report) fell 6.6% during mid-day trading on Tuesday . The stock traded as low as $231.50 and last traded at $229.32. 83,731 shares were traded during trading, a decline of 23% from the average session volume of 108,167 shares. The stock had previously closed at $245.60.

Wall Street Analyst Weigh In

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

UFP Technologies Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 28.01 and a beta of 1.11. The business's 50-day simple moving average is $240.22 and its two-hundred day simple moving average is $234.49.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.42. The company had revenue of $148.15 million for the quarter, compared to analyst estimates of $139.93 million. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%.

Insider Activity at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction 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 transaction, the senior vice president owned 12,585 shares in the company, valued at approximately $2,770,210.20. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On UFP Technologies

A number of hedge funds have recently modified their holdings of UFPT. American Century Companies Inc. raised its stake in UFP Technologies by 1,858.2% during the first quarter. American Century Companies Inc. now owns 287,588 shares of the industrial products company's stock worth $58,010,000 after buying an additional 272,902 shares during the last quarter. Wasatch Advisors LP raised its stake in UFP Technologies by 37.1% during the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company's stock worth $141,007,000 after buying an additional 156,142 shares during the last quarter. Boston Trust Walden Corp raised its stake in UFP Technologies by 98.4% during the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company's stock worth $43,196,000 after buying an additional 106,197 shares during the last quarter. Raymond James Financial Inc. bought a new position in UFP Technologies during the fourth quarter worth $16,808,000. Finally, Price T Rowe Associates Inc. MD raised its stake in UFP Technologies by 55.8% during the fourth 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 last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

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.