Laurus Investment Counsel Inc. Has $1.29 Million Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Laurus Investment Counsel Inc. cut its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 15.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,260 shares of the industrial products company’s stock after selling 950 shares during the period. Laurus Investment Counsel Inc.’s holdings in UFP Technologies were worth $1,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its stake in UFP Technologies by 94.6% during the second quarter. Envestnet Asset Management Inc. now owns 12,401 shares of the industrial products company’s stock worth $3,272,000 after buying an additional 6,027 shares during the last quarter. Hsbc Holdings PLC bought a new stake in UFP Technologies during the 2nd quarter worth approximately $214,000. Sei Investments Co. grew its position in UFP Technologies by 14.4% during the 2nd quarter. Sei Investments Co. now owns 5,524 shares of the industrial products company’s stock worth $1,457,000 after acquiring an additional 697 shares during the last quarter. Marshall Wace LLP acquired a new stake in UFP Technologies during the 2nd quarter valued at $2,412,000. Finally, Cubist Systematic Strategies LLC bought a new position in UFP Technologies in the 2nd quarter valued at $585,000. Institutional investors own 87.28% of the company’s stock.

UFP Technologies Price Performance

UFPT opened at $274.66 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.43. The stock has a market capitalization of $2.11 billion, a P/E ratio of 39.18 and a beta of 1.04. The company’s 50 day simple moving average is $268.13 and its 200-day simple moving average is $298.08. UFP Technologies, Inc. has a one year low of $167.51 and a one year high of $366.41.

Analysts Set New Price Targets

Separately, StockNews.com cut UFP Technologies from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd.

Insiders Place Their Bets

In related news, Director Cynthia L. Feldmann sold 647 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $352.30, for a total transaction of $227,938.10. Following the completion of the sale, the director now directly owns 4,049 shares of the company’s stock, valued at $1,426,462.70. The trade was a 13.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jason Holt sold 146 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $342.69, for a total transaction of $50,032.74. Following the completion of the transaction, the vice president now directly owns 6,721 shares in the company, valued at approximately $2,303,219.49. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,326 shares of company stock valued at $4,620,154. 6.17% of the stock is currently owned by corporate insiders.

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.