UFP Technologies, Inc. (NASDAQ:UFPT) Short Interest Up 27.8% in October

UFP Technologies, Inc. (NASDAQ:UFPT) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 485,300 shares, a growth of 27.8% from the September 30th total of 379,700 shares. Approximately 6.6% of the company’s stock are sold short. Based on an average daily trading volume, of 56,100 shares, the short-interest ratio is presently 8.7 days.

Insider Buying and Selling at UFP Technologies

In related news, CFO Ronald J. Lataille sold 1,598 shares of UFP Technologies 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 transaction, the chief financial officer now directly owns 57,596 shares in the company, valued at approximately $18,394,434.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction on 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 of the company’s stock, valued at $13,915,114.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ronald J. Lataille sold 1,598 shares of UFP Technologies stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $319.37, for a total value of $510,353.26. Following the sale, the chief financial officer now owns 57,596 shares in the company, valued at $18,394,434.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,134 shares of company stock valued at $21,494,247 in the last 90 days. Company insiders own 6.17% of the company’s stock.

Institutional Trading of UFP Technologies

Institutional investors have recently modified their holdings of the company. Swedbank AB bought a new stake in shares of UFP Technologies during the first quarter worth $25,220,000. Price T Rowe Associates Inc. MD grew its position in shares of UFP Technologies by 2,331.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,134 shares of the industrial products company’s stock valued at $10,879,000 after buying an additional 41,360 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of UFP Technologies by 83.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 74,510 shares of the industrial products company’s stock valued at $18,791,000 after purchasing an additional 33,806 shares during the period. Norden Group LLC lifted its stake in shares of UFP Technologies by 1,464.8% in the 1st quarter. Norden Group LLC now owns 31,405 shares of the industrial products company’s stock valued at $7,920,000 after purchasing an additional 29,398 shares during the period. Finally, Vanguard Group Inc. lifted its stake 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 valued at $91,835,000 after purchasing an additional 26,269 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

UFP Technologies Price Performance

Shares of NASDAQ UFPT opened at $287.38 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. UFP Technologies has a 1-year low of $127.29 and a 1-year high of $366.41. The firm has a market capitalization of $2.20 billion, a PE ratio of 44.76 and a beta of 0.93. The business’s fifty day moving average price is $315.27 and its two-hundred day moving average price is $287.37.

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

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.