UFP Technologies, Inc. (NASDAQ:UFPT) Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 39.4% in the third quarter, Holdings Channel.com reports. The fund owned 92,053 shares of the industrial products company’s stock after acquiring an additional 26,001 shares during the period. Franklin Resources Inc.’s holdings in UFP Technologies were worth $28,904,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wasatch Advisors LP grew its position in UFP Technologies by 65.4% in the third quarter. Wasatch Advisors LP now owns 420,549 shares of the industrial products company’s stock worth $133,188,000 after buying an additional 166,262 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of UFP Technologies during the third quarter valued at $9,791,000. De Lisle Partners LLP increased its stake in UFP Technologies by 30.6% in the 3rd quarter. De Lisle Partners LLP now owns 66,573 shares of the industrial products company’s stock worth $21,070,000 after purchasing an additional 15,603 shares in the last quarter. Millennium Management LLC lifted its stake in UFP Technologies by 78.8% during the second quarter. Millennium Management LLC now owns 26,706 shares of the industrial products company’s stock valued at $7,047,000 after buying an additional 11,767 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of UFP Technologies by 390.6% during the third quarter. Barclays PLC now owns 12,937 shares of the industrial products company’s stock valued at $4,098,000 after acquiring an additional 10,300 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

UFP Technologies Trading Down 4.5 %

UFP Technologies stock opened at $241.88 on Thursday. UFP Technologies, Inc. has a 12 month low of $152.43 and a 12 month high of $366.41. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.86 billion, a P/E ratio of 34.50 and a beta of 0.99. The company’s fifty day simple moving average is $298.06 and its 200-day simple moving average is $301.45.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a report on Monday.

Insider Transactions at UFP Technologies

In other UFP Technologies news, CEO R Jeffrey Bailly sold 12,533 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $346.46, for a total value of $4,342,183.18. Following the completion of the sale, the chief executive officer now directly owns 31,194 shares of the company’s stock, valued at $10,807,473.24. The trade was a 28.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cynthia L. Feldmann sold 647 shares of UFP Technologies stock in a transaction 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 approximately $1,426,462.70. The trade was a 13.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,326 shares of company stock valued at $4,620,154 in the last three months. Corporate insiders own 6.17% of the company’s stock.

About UFP Technologies

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.