TD Asset Management Inc Trims Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

TD Asset Management Inc trimmed its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 42.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,100 shares of the industrial products company’s stock after selling 800 shares during the period. TD Asset Management Inc’s holdings in UFP Technologies were worth $290,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of UFPT. Vanguard Group Inc. increased its position in UFP Technologies by 5.2% during the fourth quarter. Vanguard Group Inc. now owns 533,800 shares of the industrial products company’s stock worth $91,835,000 after buying an additional 26,269 shares in the last quarter. Wasatch Advisors LP lifted its holdings in UFP Technologies by 6.0% in the 4th quarter. Wasatch Advisors LP now owns 313,214 shares of the industrial products company’s stock valued at $53,885,000 after purchasing an additional 17,708 shares in the last quarter. Congress Asset Management Co. MA grew its holdings in shares of UFP Technologies by 174.1% during the first quarter. Congress Asset Management Co. MA now owns 185,935 shares of the industrial products company’s stock worth $46,893,000 after buying an additional 118,106 shares in the last quarter. Swedbank AB acquired a new position in shares of UFP Technologies in the first quarter valued at approximately $25,220,000. Finally, Mountain Pacific Investment Advisers LLC lifted its stake in shares of UFP Technologies by 2.6% during the second quarter. Mountain Pacific Investment Advisers LLC now owns 92,738 shares of the industrial products company’s stock valued at $24,471,000 after buying an additional 2,365 shares during the period. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at UFP Technologies

In other news, CFO Ronald J. Lataille sold 11,466 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total value of $3,458,718.90. Following the transaction, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Ronald J. Lataille sold 1,598 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $319.37, for a total value of $510,353.26. Following the completion of the sale, the chief financial officer now directly owns 57,596 shares in the company, valued at approximately $18,394,434.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ronald J. Lataille sold 11,466 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $301.65, for a total value of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares in the company, valued at approximately $13,915,114.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,134 shares of company stock worth $21,494,247. 6.17% of the stock is owned by insiders.

UFP Technologies Stock Up 5.0 %

UFPT opened at $317.79 on Monday. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 51.09 and a beta of 0.94. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $341.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. The business has a 50-day moving average of $318.17 and a two-hundred day moving average of $269.07.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 EPS for the quarter. The firm had revenue of $110.18 million during the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%.

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.