Public Sector Pension Investment Board Grows Stock Position in UFP Technologies, Inc. $UFPT

Public Sector Pension Investment Board lifted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 27.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,138 shares of the industrial products company's stock after acquiring an additional 4,998 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.30% of UFP Technologies worth $4,667,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UFPT. JPMorgan Chase & Co. grew its stake in shares of UFP Technologies by 4.8% during the 4th quarter. JPMorgan Chase & Co. now owns 11,573 shares of the industrial products company's stock valued at $2,830,000 after acquiring an additional 525 shares during the period. Wells Fargo & Company MN boosted its stake in UFP Technologies by 24.4% in the 4th quarter. Wells Fargo & Company MN now owns 8,312 shares of the industrial products company's stock worth $2,032,000 after purchasing an additional 1,629 shares during the period. Envestnet Asset Management Inc. boosted its stake in UFP Technologies by 60.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 20,812 shares of the industrial products company's stock worth $5,089,000 after purchasing an additional 7,865 shares during the period. Legal & General Group Plc boosted its stake in UFP Technologies by 3.6% in the 4th quarter. Legal & General Group Plc now owns 20,811 shares of the industrial products company's stock worth $5,088,000 after purchasing an additional 717 shares during the period. Finally, Raymond James Financial Inc. bought a new position in UFP Technologies in the 4th quarter worth approximately $16,808,000. 87.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Lake Street Capital upped their price target on UFP Technologies from $252.00 to $289.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $289.00.

UFP Technologies Price Performance

Shares of UFPT traded up $9.2450 during mid-day trading on Friday, hitting $228.8050. 23,747 shares of the stock were exchanged, compared to its average volume of 135,307. The company has a market cap of $1.76 billion, a PE ratio of 26.51 and a beta of 1.14. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week high of $366.41. The firm has a 50-day moving average of $234.02 and a two-hundred day moving average of $228.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.77.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.25. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%.The company had revenue of $151.18 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the firm posted $1.86 EPS. UFP Technologies's quarterly revenue was up 37.2% compared to the same quarter last year.

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.