UFP Technologies, Inc. (NASDAQ:UFPT) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 53,900 shares, a decline of 28.3% from the August 30th total of 75,200 shares. Based on an average daily volume of 25,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.8% of the company’s shares are short sold.
In other UFP Technologies news, Director Marc D. Kozin sold 2,610 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $39.92, for a total value of $104,191.20. Following the completion of the sale, the director now owns 34,176 shares in the company, valued at $1,364,305.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in UFP Technologies by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 67,437 shares of the industrial products company’s stock worth $2,807,000 after purchasing an additional 558 shares during the period. Charles Schwab Investment Management Inc. grew its stake in UFP Technologies by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 17,484 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 605 shares during the period. Hillsdale Investment Management Inc. grew its stake in UFP Technologies by 335.7% in the second quarter. Hillsdale Investment Management Inc. now owns 3,050 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 2,350 shares during the period. Acadian Asset Management LLC grew its stake in UFP Technologies by 22.9% in the second quarter. Acadian Asset Management LLC now owns 14,048 shares of the industrial products company’s stock worth $584,000 after purchasing an additional 2,618 shares during the period. Finally, Northern Trust Corp grew its stake in UFP Technologies by 3.1% in the second quarter. Northern Trust Corp now owns 94,224 shares of the industrial products company’s stock worth $3,921,000 after purchasing an additional 2,812 shares during the period. Institutional investors own 74.26% of the company’s stock.
Several analysts have weighed in on the company. BidaskClub downgraded UFP Technologies from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Zacks Investment Research upgraded UFP Technologies from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Thursday, August 29th. Finally, ValuEngine downgraded UFP Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th.
Shares of UFP Technologies stock traded down $0.03 during midday trading on Monday, reaching $40.05. 10,972 shares of the company’s stock traded hands, compared to its average volume of 23,280. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.86 and a current ratio of 2.77. The company has a market cap of $297.49 million, a PE ratio of 19.07 and a beta of 0.57. The stock has a 50 day moving average of $40.27 and a 200-day moving average of $39.53. UFP Technologies has a 12 month low of $27.80 and a 12 month high of $46.42.
UFP Technologies (NASDAQ:UFPT) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The company had revenue of $51.40 million during the quarter, compared to the consensus estimate of $51.50 million. UFP Technologies had a return on equity of 11.84% and a net margin of 8.56%. On average, equities analysts anticipate that UFP Technologies will post 2.27 earnings per share for the current fiscal year.
UFP Technologies Company Profile
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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