UFP Technologies (NASDAQ:UFPT) Cut to Sell at ValuEngine

UFP Technologies (NASDAQ:UFPT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, October 16th, ValuEngine reports.

A number of other equities analysts also recently commented on the stock. BidaskClub downgraded shares of UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Zacks Investment Research upgraded shares of UFP Technologies from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Thursday, August 29th.

UFPT stock traded down $1.00 during trading on Wednesday, reaching $42.40. The stock had a trading volume of 16,700 shares, compared to its average volume of 22,874. The firm has a fifty day moving average price of $40.32 and a 200 day moving average price of $40.07. The company has a market capitalization of $317.78 million, a P/E ratio of 20.19 and a beta of 0.59. UFP Technologies has a 1-year low of $27.80 and a 1-year high of $46.42. The company has a current ratio of 2.77, a quick ratio of 1.86 and a debt-to-equity ratio of 0.11.

In related news, Director Marc D. Kozin sold 2,610 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $39.92, for a total transaction of $104,191.20. Following the completion of the sale, the director now owns 34,176 shares in the company, valued at approximately $1,364,305.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in UFP Technologies by 17.2% in the 2nd quarter. BlackRock Inc. now owns 419,673 shares of the industrial products company’s stock valued at $17,462,000 after acquiring an additional 61,634 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in shares of UFP Technologies by 302.9% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 201,071 shares of the industrial products company’s stock worth $8,367,000 after buying an additional 151,161 shares during the period. AltraVue Capital LLC grew its position in shares of UFP Technologies by 37.8% during the 2nd quarter. AltraVue Capital LLC now owns 159,673 shares of the industrial products company’s stock worth $6,644,000 after buying an additional 43,840 shares during the period. Panagora Asset Management Inc. grew its position in shares of UFP Technologies by 93.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 36,367 shares of the industrial products company’s stock worth $1,513,000 after buying an additional 17,535 shares during the period. Finally, Cadence Capital Management LLC acquired a new stake in shares of UFP Technologies during the 3rd quarter worth approximately $1,934,000. Hedge funds and other institutional investors own 74.65% of the company’s stock.

About UFP Technologies

UFP Technologies, Inc designs and converts foams, plastics, composites, and natural fiber materials for the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets in the United States. It offers single patient use surfaces, advanced wound care, infection prevention, and disposables for surgical procedures, endoscopic procedures, orthopedic implants, orthopedic appliances, biopharma drug manufacturing, etc.; molded components automotive, aerospace, and defense markets; recycled protective packaging for B2C brands; and reusable cases and custom inserts.

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