UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 293,612 shares of the industrial products company’s stock after selling 2,761 shares during the quarter. Renaissance Technologies LLC owned 3.83% of UFP Technologies worth $77,475,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in UFP Technologies by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 2,032 shares of the industrial products company’s stock worth $536,000 after buying an additional 38 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its holdings in shares of UFP Technologies by 2.9% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 1,459 shares of the industrial products company’s stock valued at $385,000 after purchasing an additional 41 shares in the last quarter. Millington Financial Advisors LLC raised its holdings in shares of UFP Technologies by 0.4% in the 2nd quarter. Millington Financial Advisors LLC now owns 12,737 shares of the industrial products company’s stock valued at $3,361,000 after purchasing an additional 51 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of UFP Technologies by 1.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 5,948 shares of the industrial products company’s stock valued at $1,569,000 after purchasing an additional 61 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of UFP Technologies by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 6,151 shares of the industrial products company’s stock valued at $1,551,000 after purchasing an additional 81 shares in the last quarter. 87.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO R Jeffrey Bailly sold 10,887 shares of UFP Technologies stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the sale, the chief executive officer now directly owns 143,970 shares in the company, valued at approximately $44,696,926.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Ronald J. Lataille sold 11,466 shares of UFP Technologies stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the sale, the chief financial officer now directly owns 46,130 shares in the company, valued at approximately $13,915,114.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R Jeffrey Bailly sold 10,887 shares of UFP Technologies stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $310.46, for a total transaction of $3,379,978.02. Following the sale, the chief executive officer now owns 143,970 shares in the company, valued at $44,696,926.20. The disclosure for this sale can be found here. Insiders have sold 68,134 shares of company stock worth $21,494,247 in the last ninety days. 6.17% of the stock is owned by corporate insiders.

UFP Technologies Price Performance

Shares of UFPT opened at $324.26 on Tuesday. UFP Technologies, Inc. has a twelve month low of $127.29 and a twelve month high of $341.23. The firm’s fifty day simple moving average is $318.68 and its 200-day simple moving average is $269.88. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 52.13 and a beta of 0.94. The company has a current ratio of 3.13, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

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

Wall Street Analysts Forecast Growth

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

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.