Chesapeake Capital Corp IL Cuts Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Chesapeake Capital Corp IL decreased its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 51.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,786 shares of the industrial products company’s stock after selling 2,898 shares during the period. UFP Technologies makes up 1.0% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 23rd largest holding. Chesapeake Capital Corp IL’s holdings in UFP Technologies were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UFPT. Morgan Dempsey Capital Management LLC lifted its position in shares of UFP Technologies by 2.9% during 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 acquiring an additional 41 shares during the period. Norden Group LLC raised its holdings in UFP Technologies by 32.7% during the second quarter. Norden Group LLC now owns 3,774 shares of the industrial products company’s stock worth $996,000 after purchasing an additional 930 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in UFP Technologies during the second quarter worth $1,530,000. Arizona State Retirement System grew its holdings in 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 last quarter. Finally, Rothschild Investment LLC purchased a new position in shares of UFP Technologies in the second quarter valued at $195,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Insider Buying and Selling at UFP Technologies

In other news, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total transaction of $1,585,451.12. Following the completion of the sale, the chief financial officer now directly owns 41,332 shares in the company, valued at $13,657,746.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Ronald J. Lataille sold 2,392 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $329.04, for a total value of $787,063.68. Following the completion of the transaction, the chief financial officer now directly owns 38,940 shares in the company, valued at $12,812,817.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ronald J. Lataille sold 4,798 shares of UFP Technologies stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $330.44, for a total value of $1,585,451.12. Following the completion of the transaction, the chief financial officer now directly owns 41,332 shares in the company, valued at $13,657,746.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,134 shares of company stock worth $21,494,247. Corporate insiders own 6.17% of the company’s stock.

UFP Technologies Trading Up 1.2 %

Shares of UFP Technologies stock opened at $324.98 on Tuesday. UFP Technologies, Inc. has a 1 year low of $127.29 and a 1 year 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 business has a 50 day moving average price of $316.41 and a 200 day moving average price of $265.69. The company has a market capitalization of $2.49 billion, a P/E ratio of 52.25 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

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

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.