New York State Common Retirement Fund Decreases Stock Holdings in UFP Technologies, Inc. $UFPT

New York State Common Retirement Fund lessened its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 50.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,312 shares of the industrial products company’s stock after selling 51,576 shares during the period. New York State Common Retirement Fund’s holdings in UFP Technologies were worth $10,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in UFPT. Wasatch Advisors LP boosted its holdings in shares of UFP Technologies by 1.4% in the 2nd quarter. Wasatch Advisors LP now owns 650,960 shares of the industrial products company’s stock valued at $158,938,000 after buying an additional 8,770 shares in the last quarter. Congress Asset Management Co. lifted its position in UFP Technologies by 1.8% during the third quarter. Congress Asset Management Co. now owns 333,214 shares of the industrial products company’s stock valued at $66,510,000 after acquiring an additional 5,781 shares during the last quarter. American Century Companies Inc. lifted its position in UFP Technologies by 13.0% during the second quarter. American Century Companies Inc. now owns 325,047 shares of the industrial products company’s stock valued at $79,364,000 after acquiring an additional 37,459 shares during the last quarter. Boston Trust Walden Corp boosted its stake in UFP Technologies by 19.3% in the second quarter. Boston Trust Walden Corp now owns 255,377 shares of the industrial products company’s stock valued at $62,353,000 after acquiring an additional 41,230 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in UFP Technologies by 3.3% in the second quarter. Geode Capital Management LLC now owns 186,090 shares of the industrial products company’s stock worth $45,441,000 after purchasing an additional 5,917 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

Insider Activity at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,829 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $227.20, for a total value of $415,548.80. Following the sale, the senior vice president owned 10,756 shares in the company, valued at $2,443,763.20. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

UFP Technologies Stock Down 1.7%

Shares of UFPT stock opened at $251.45 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.41. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $289.57. The firm has a market capitalization of $1.94 billion, a PE ratio of 29.14 and a beta of 1.11. The stock’s 50-day simple moving average is $237.40 and its 200-day simple moving average is $220.89.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Monday, November 3rd. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.17. UFP Technologies had a return on equity of 20.45% and a net margin of 11.23%.The firm had revenue of $154.56 million for the quarter, compared to analyst estimates of $149.56 million. The company’s quarterly revenue was up 6.5% on a year-over-year basis.

Analyst Ratings Changes

UFPT has been the subject of several analyst reports. Wall Street Zen lowered UFP Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research report on Wednesday, October 8th. Finally, Zacks Research raised UFP Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $289.00.

About UFP Technologies

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.