Diamond Hill Capital Management Inc. Reduces Stock Holdings in UFP Technologies, Inc. (NASDAQ:UFPT)

Diamond Hill Capital Management Inc. lowered its position in UFP Technologies, Inc. (NASDAQ:UFPT) by 20.9% in the second quarter, HoldingsChannel reports. The firm owned 27,270 shares of the industrial products company’s stock after selling 7,205 shares during the period. Diamond Hill Capital Management Inc.’s holdings in UFP Technologies were worth $7,196,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at UFP Technologies

In other news, CEO R Jeffrey Bailly sold 10,887 shares of the stock in a transaction dated 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 owns 143,970 shares of the company’s stock, valued at $44,696,926.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO R Jeffrey Bailly sold 10,887 shares of the stock in a transaction dated 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 owns 143,970 shares of the company’s stock, valued at $44,696,926.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ronald J. Lataille sold 11,466 shares of the stock in a transaction dated Tuesday, August 6th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,134 shares of company stock valued at $21,494,247. 6.17% of the stock is currently owned by corporate insiders.

UFP Technologies Trading Up 5.0 %

NASDAQ UFPT opened at $317.79 on Monday. The firm’s 50-day moving average is $318.17 and its two-hundred day moving average is $269.07. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $341.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. The stock has a market capitalization of $2.44 billion, a P/E ratio of 51.09 and a beta of 0.94.

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

UFP Technologies Company Profile

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.