Zacks Investment Research downgraded shares of UFP Technologies Inc. (NASDAQ:UFPT) from a hold rating to a strong sell rating in a research note released 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 raised shares of UFP Technologies from a hold rating to a buy rating in a research note on Friday, August 19th.
UFP Technologies (NASDAQ:UFPT) opened at 25.50 on Friday. UFP Technologies has a 1-year low of $20.40 and a 1-year high of $27.50. The firm’s 50-day moving average is $25.97 and its 200-day moving average is $24.12.
In other news, insider R Jeffrey Bailly sold 10,348 shares of UFP Technologies stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $25.70, for a total value of $265,943.60. Following the transaction, the insider now owns 634,818 shares of the company’s stock, valued at approximately $16,314,822.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.90% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in UFP Technologies by 420,000.0% in the third quarter. Wells Fargo & Company MN now owns 4,201 shares of the company’s stock valued at $111,000 after buying an additional 4,200 shares during the period. The Manufacturers Life Insurance Company purchased a new position in UFP Technologies during the third quarter valued at $143,000. Nationwide Fund Advisors purchased a new position in UFP Technologies during the second quarter valued at $190,000. Teachers Advisors Inc. purchased a new position in UFP Technologies during the second quarter valued at $223,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in UFP Technologies during the second quarter valued at $224,000. 66.66% of the stock is currently owned by institutional investors.
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.