Congress Asset Management Co. Sells 108,669 Shares of UFP Technologies, Inc. $UFPT

Congress Asset Management Co. decreased its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 15.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 578,770 shares of the industrial products company’s stock after selling 108,669 shares during the quarter. UFP Technologies makes up approximately 1.1% of Congress Asset Management Co.’s portfolio, making the stock its 16th largest position. Congress Asset Management Co. owned 0.07% of UFP Technologies worth $171,791,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in shares of UFP Technologies in the second quarter valued at about $41,000. Nykredit A S acquired a new stake in UFP Technologies in the 2nd quarter worth about $126,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in UFP Technologies in the 2nd quarter worth about $398,000. Grandeur Peak Global Advisors LLC boosted its holdings in UFP Technologies by 43.3% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 2,848 shares of the industrial products company’s stock valued at $755,000 after purchasing an additional 860 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of UFP Technologies during the 2nd quarter worth approximately $887,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UFPT. Weiss Ratings raised shares of UFP Technologies from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded UFP Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT traded down $4.46 during midday trading on Tuesday, hitting $302.87. The stock had a trading volume of 132,593 shares, compared to its average volume of 188,480. The company’s 50-day moving average price is $295.06 and its 200-day moving average price is $247.59. The company has a market capitalization of $2.35 billion, a P/E ratio of 32.64 and a beta of 1.04. The company has a quick ratio of 1.72, a current ratio of 3.00 and a debt-to-equity ratio of 0.26. UFP Technologies, Inc. has a fifty-two week low of $173.86 and a fifty-two week high of $338.71.

UFP Technologies (NASDAQ:UFPT) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.61. The business had revenue of $173.96 million for the quarter, compared to analyst estimates of $159.38 million. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. As a group, equities research analysts predict that UFP Technologies, Inc. will post 10.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman R. Bailly sold 10,682 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $318.63, for a total transaction of $3,403,605.66. Following the completion of the transaction, the chairman owned 18,024 shares of the company’s stock, valued at approximately $5,742,987.12. The trade was a 37.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cynthia Feldmann sold 1,000 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $324.26, for a total value of $324,260.00. Following the sale, the director owned 4,476 shares of the company’s stock, valued at approximately $1,451,387.76. This represents a 18.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 25,919 shares of company stock worth $8,173,084. 4.59% of the stock is currently owned by company insiders.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a designer and manufacturer of custom-engineered components, subassemblies and complete systems used primarily in the medical device industry. The company works with medical device manufacturers to develop solutions for applications such as minimally invasive surgery, orthopedics, cardiovascular care, wound care, drug delivery and patient monitoring.

Its capabilities include materials selection, product design and development, precision converting, molding, thermoforming, assembly and packaging.