UFP Technologies, Inc. (NASDAQ:UFPT) Sees Significant Decrease in Short Interest

UFP Technologies, Inc. (NASDAQ:UFPT) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 13,900 shares, a decline of 15.8% from the December 15th total of 16,500 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 29,100 shares, the short-interest ratio is currently 0.5 days.

Shares of NASDAQ UFPT traded up $0.07 during trading on Tuesday, hitting $47.70. 71,974 shares of the company traded hands, compared to its average volume of 35,956. UFP Technologies has a 1 year low of $27.80 and a 1 year high of $50.00. The company has a 50-day moving average price of $47.47 and a 200-day moving average price of $42.85. The firm has a market capitalization of $354.75 million, a P/E ratio of 22.71 and a beta of 0.66. The company has a quick ratio of 2.10, a current ratio of 3.00 and a debt-to-equity ratio of 0.09.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.19. UFP Technologies had a net margin of 9.25% and a return on equity of 12.45%. The company had revenue of $49.39 million during the quarter, compared to analysts’ expectations of $51.50 million. Research analysts predict that UFP Technologies will post 2.47 EPS for the current fiscal year.

In other news, Director Thomas Oberdorf sold 7,246 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.55, for a total transaction of $308,317.30. Following the completion of the sale, the director now directly owns 52,354 shares of the company’s stock, valued at approximately $2,227,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher P. Litterio sold 5,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $45.52, for a total transaction of $227,600.00. Following the sale, the senior vice president now directly owns 11,289 shares of the company’s stock, valued at $513,875.28. The disclosure for this sale can be found here. Insiders sold a total of 60,687 shares of company stock valued at $2,715,999 over the last ninety days. 11.00% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of UFP Technologies by 3.7% during the 3rd quarter. State Street Corp now owns 133,262 shares of the industrial products company’s stock valued at $5,144,000 after acquiring an additional 4,752 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of UFP Technologies by 17.2% during the 2nd quarter. BlackRock Inc. now owns 419,673 shares of the industrial products company’s stock valued at $17,462,000 after acquiring an additional 61,634 shares in the last quarter. Cadence Capital Management LLC acquired a new position in shares of UFP Technologies during the 3rd quarter valued at $1,934,000. Polar Asset Management Partners Inc. lifted its holdings in shares of UFP Technologies by 302.9% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 201,071 shares of the industrial products company’s stock valued at $8,367,000 after acquiring an additional 151,161 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of UFP Technologies by 4.4% during the 3rd quarter. California Public Employees Retirement System now owns 38,347 shares of the industrial products company’s stock valued at $1,480,000 after acquiring an additional 1,616 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Several brokerages have recently issued reports on UFPT. BidaskClub raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, November 21st. ValuEngine cut shares of UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, Zacks Investment Research cut shares of UFP Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 29th.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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