UFP Technologies (NASDAQ:UFPT) Sees Large Volume Increase – Here’s Why

UFP Technologies, Inc. (NASDAQ:UFPT) shares saw unusually-high trading volume on Thursday . Approximately 115,609 shares changed hands 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.

Analysts Set New Price Targets

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

UFP Technologies Price Performance

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 price-to-earnings ratio of 33.87 and a beta of 1.12. The business’s fifty day simple moving average is $220.28 and its 200 day simple moving average is $242.22.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data 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 firm had revenue of $148.15 million during the quarter, compared to analysts’ expectations of $139.93 million. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%.

Insider Activity

In other news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,585 shares in the company, valued at $2,770,210.20. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Wasatch Advisors LP lifted its position in shares of UFP Technologies by 37.1% during the fourth quarter. Wasatch Advisors LP now owns 576,691 shares of the industrial products company’s stock valued at $141,007,000 after purchasing an additional 156,142 shares in the last quarter. Vanguard Group Inc. lifted its position 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 in the last quarter. Congress Asset Management Co. lifted its position in shares of UFP Technologies by 10.0% during the first 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 in the last quarter. American Century Companies Inc. lifted its position in shares of 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 valued at $58,010,000 after purchasing an additional 272,902 shares in the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of 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 valued at $43,196,000 after purchasing an additional 106,197 shares in the last quarter. 87.28% of the stock is owned by 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.