Inspire Investing LLC Decreases Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Inspire Investing LLC cut its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,349 shares of the industrial products company’s stock after selling 81 shares during the quarter. Inspire Investing LLC’s holdings in UFP Technologies were worth $356,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UFPT. Vanguard Group Inc. increased its holdings in shares of UFP Technologies by 5.2% in the 4th 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 during the last quarter. Wasatch Advisors LP increased its stake in UFP Technologies by 6.0% during the fourth quarter. Wasatch Advisors LP now owns 313,214 shares of the industrial products company’s stock worth $53,885,000 after acquiring an additional 17,708 shares during the last quarter. Congress Asset Management Co. MA raised its position in 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 valued at $46,893,000 after purchasing an additional 118,106 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of UFP Technologies by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 105,118 shares of the industrial products company’s stock valued at $27,737,000 after purchasing an additional 2,699 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of UFP Technologies in the 1st quarter worth approximately $25,220,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Wall Street Analyst Weigh In

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

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT opened at $358.42 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 57.62 and a beta of 0.94. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $360.54. The firm’s 50-day moving average is $322.17 and its 200 day moving average is $273.20.

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

Insider Transactions at UFP Technologies

In other news, CFO Ronald J. Lataille sold 2,392 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the transaction, the chief financial officer now directly owns 38,940 shares in the company, valued at $12,812,817.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other UFP Technologies news, CFO Ronald J. Lataille sold 2,392 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the sale, the chief financial officer now directly owns 38,940 shares of the company’s stock, valued at approximately $12,812,817.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO R Jeffrey Bailly sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $310.36, for a total transaction of $336,119.88. Following the transaction, the chief executive officer now directly owns 139,341 shares in the company, valued at $43,245,872.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,134 shares of company stock worth $21,494,247. 6.17% of the stock is currently owned by insiders.

UFP Technologies 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.