Eagle Ridge Investment Management Decreases Position in UFP Technologies, Inc. (NASDAQ:UFPT)
Eagle Ridge Investment Management lowered its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 15.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,104 shares of the industrial products company’s stock after selling 1,509 shares during the quarter. Eagle Ridge Investment Management’s holdings in UFP Technologies were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in UFP Technologies by 61.0% in the 1st quarter. FMR LLC now owns 202,001 shares of the industrial products company’s stock valued at $7,555,000 after buying an additional 76,557 shares in the last quarter. Legato Capital Management LLC purchased a new position in UFP Technologies in the 2nd quarter valued at approximately $1,948,000. AltraVue Capital LLC grew its stake in UFP Technologies by 37.8% in the 2nd quarter. AltraVue Capital LLC now owns 159,673 shares of the industrial products company’s stock valued at $6,644,000 after buying an additional 43,840 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in UFP Technologies by 38.7% in the 1st quarter. Wedge Capital Management L L P NC now owns 52,750 shares of the industrial products company’s stock valued at $1,973,000 after buying an additional 14,711 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in UFP Technologies by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 278,212 shares of the industrial products company’s stock valued at $8,358,000 after buying an additional 13,642 shares in the last quarter. Institutional investors own 74.10% of the company’s stock.
NASDAQ:UFPT traded up $0.08 during trading hours on Thursday, hitting $41.32. The stock had a trading volume of 164 shares, compared to its average volume of 30,821. The business’s 50 day moving average price is $41.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.90 and a quick ratio of 1.88. UFP Technologies, Inc. has a one year low of $27.80 and a one year high of $46.42. The stock has a market cap of $315.18 million, a price-to-earnings ratio of 19.74 and a beta of 0.54.
In other UFP Technologies news, insider R Jeffrey Bailly sold 6,573 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $38.53, for a total value of $253,257.69. Following the completion of the transaction, the insider now directly owns 496,122 shares of the company’s stock, valued at approximately $19,115,580.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 16,219 shares of company stock valued at $626,302. Insiders own 11.00% of the company’s stock.
UFPT has been the subject of a number of recent research reports. ValuEngine lowered shares of UFP Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Zacks Investment Research lowered shares of UFP Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, BidaskClub upgraded shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th.
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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