UFP Technologies Inc. (NASDAQ:UFPT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Friday.
According to Zacks, “UFP TECH., INC. designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic prods. for the industrial and consumer markets. UFP also designs precision moulded fibre packaging prods. made from recycled paper. “
Separately, TheStreet upgraded UFP Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 19th.
UFP Technologies (NASDAQ:UFPT) opened at 25.50 on Friday. The stock has a 50 day moving average price of $26.01 and a 200 day moving average price of $24.12. UFP Technologies has a 52-week low of $20.40 and a 52-week high of $27.50. The stock has a market cap of $183.55 million, a price-to-earnings ratio of 22.77 and a beta of 0.58.
In related news, insider R Jeffrey Bailly sold 10,348 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $25.70, for a total transaction of $265,943.60. Following the sale, the insider now owns 634,818 shares in the company, valued at approximately $16,314,822.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in UFP Technologies during the third quarter worth $143,000. Northern Trust Corp raised its stake in UFP Technologies by 2.7% in the third quarter. Northern Trust Corp now owns 81,747 shares of the company’s stock worth $2,166,000 after buying an additional 2,150 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in UFP Technologies by 15.2% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 699,864 shares of the company’s stock worth $18,547,000 after buying an additional 92,276 shares during the last quarter. Emerald Acquisition Ltd. raised its stake in UFP Technologies by 34.2% in the third quarter. Emerald Acquisition Ltd. now owns 68,449 shares of the company’s stock worth $1,814,000 after buying an additional 17,449 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in UFP Technologies by 0.7% in the third quarter. California State Teachers Retirement System now owns 13,538 shares of the company’s stock worth $359,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 67.52% of the company’s stock.
UFP Technologies Company Profile
UFP Technologies, Inc is a designer and custom converter of foams, plastics, composites and natural fiber materials. The Company is engaged in providing solutions to customers primarily within the medical, automotive, consumer, electronics, industrial, and aerospace and defense markets. It converts these materials using laminating, molding, and fabricating manufacturing technologies.