New York State Teachers Retirement System Increases Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

New York State Teachers Retirement System lifted its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 9.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,400 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. New York State Teachers Retirement System’s holdings in UFP Technologies were worth $413,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of UFPT. Charles Schwab Investment Management Inc. boosted its stake in UFP Technologies by 193.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,070 shares of the industrial products company’s stock valued at $9,214,000 after acquiring an additional 37,590 shares in the last quarter. EFG Asset Management North America Corp. purchased a new position in UFP Technologies in the third quarter valued at $1,196,000. Teachers Retirement System of The State of Kentucky increased its holdings in UFP Technologies by 112.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 2,340 shares of the industrial products company’s stock valued at $378,000 after buying an additional 1,240 shares in the last quarter. Raymond James & Associates grew its position in shares of UFP Technologies by 8.8% in the fourth quarter. Raymond James & Associates now owns 22,001 shares of the industrial products company’s stock valued at $3,785,000 after purchasing an additional 1,778 shares during the period. Finally, Congress Asset Management Co. MA grew its position in shares of UFP Technologies by 7.2% in the third quarter. Congress Asset Management Co. MA now owns 58,915 shares of the industrial products company’s stock valued at $9,512,000 after purchasing an additional 3,946 shares during the period. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Wall Street Analyst Weigh In

UFPT has been the topic of a number of recent research reports. CJS Securities initiated coverage on shares of UFP Technologies in a research report on Wednesday, March 20th. They set an “outperform” rating and a $255.00 price target on the stock. StockNews.com raised shares of UFP Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, KeyCorp began coverage on shares of UFP Technologies in a research note on Tuesday, February 6th. They issued a “sector weight” rating on the stock.

UFP Technologies Trading Down 3.5 %

Shares of NASDAQ:UFPT opened at $217.74 on Friday. UFP Technologies, Inc. has a 52 week low of $127.29 and a 52 week high of $257.29. The company’s 50 day moving average is $216.57 and its two-hundred day moving average is $182.22. The company has a current ratio of 2.48, a quick ratio of 1.28 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.66 billion, a PE ratio of 37.22 and a beta of 0.83.

UFP Technologies (NASDAQ:UFPT) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.41. UFP Technologies had a net margin of 11.23% and a return on equity of 25.48%. The company had revenue of $101.50 million for the quarter, compared to the consensus estimate of $94.80 million. Equities analysts predict that UFP Technologies, Inc. will post 6.19 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Steve Cardin sold 311 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $196.50, for a total value of $61,111.50. Following the completion of the transaction, the vice president now owns 5,643 shares in the company, valued at approximately $1,108,849.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other UFP Technologies news, SVP Christopher P. Litterio sold 2,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $208.65, for a total transaction of $417,300.00. Following the completion of the transaction, the senior vice president now owns 14,334 shares in the company, valued at approximately $2,990,789.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Steve Cardin sold 311 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $196.50, for a total transaction of $61,111.50. Following the transaction, the vice president now owns 5,643 shares of the company’s stock, valued at approximately $1,108,849.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,125 shares of company stock worth $6,511,420. Corporate insiders own 7.80% of the company’s stock.

UFP Technologies 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.