UFP Technologies (NASDAQ:UFPT) Sees Large Volume Increase – Still a Buy?

Shares of UFP Technologies, Inc. (NASDAQ:UFPT) saw unusually-high trading volume on Tuesday . Approximately 33,591 shares traded hands during mid-day trading, a decline of 44% from the previous session’s volume of 59,491 shares.The stock last traded at $327.06 and had previously closed at $277.62.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital raised their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

UFP Technologies Stock Performance

The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 53.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.63 and a current ratio of 3.13. The company’s 50 day simple moving average is $310.01 and its 200 day simple moving average is $290.36.

Insider Buying and Selling at UFP Technologies

In other news, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total value of $1,585,451.12. Following the transaction, the chief financial officer now owns 41,332 shares of the company’s stock, valued at $13,657,746.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other UFP Technologies news, CEO R Jeffrey Bailly sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $310.36, for a total value of $336,119.88. Following the completion of the transaction, the chief executive officer now directly owns 139,341 shares in the company, valued at $43,245,872.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Ronald J. Lataille sold 4,798 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the completion of the transaction, the chief financial officer now owns 41,332 shares of the company’s stock, valued at approximately $13,657,746.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,183 shares of company stock valued at $14,145,197. Company insiders own 6.17% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UFPT. Tidal Investments LLC acquired a new stake in shares of UFP Technologies during the first quarter worth approximately $448,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of UFP Technologies by 2,331.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock worth $10,879,000 after purchasing an additional 41,360 shares during the period. SG Americas Securities LLC boosted its holdings in shares of UFP Technologies by 489.8% during the first quarter. SG Americas Securities LLC now owns 4,158 shares of the industrial products company’s stock worth $1,049,000 after purchasing an additional 3,453 shares during the period. Sei Investments Co. boosted its holdings in shares of UFP Technologies by 171.8% during the first quarter. Sei Investments Co. now owns 4,827 shares of the industrial products company’s stock worth $1,217,000 after purchasing an additional 3,051 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in shares of UFP Technologies by 83.1% during the first quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock worth $18,791,000 after purchasing an additional 33,806 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

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.