Teacher Retirement System of Texas Has $692,000 Stock Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Teacher Retirement System of Texas lessened its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 39.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,430 shares of the industrial products company's stock after selling 2,245 shares during the quarter. Teacher Retirement System of Texas' holdings in UFP Technologies were worth $692,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. AlphaQuest LLC bought a new stake in UFP Technologies during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new stake in shares of UFP Technologies during the fourth quarter worth $42,000. EverSource Wealth Advisors LLC lifted its position in UFP Technologies by 24.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock valued at $81,000 after acquiring an additional 66 shares in the last quarter. Lazard Asset Management LLC acquired a new position in UFP Technologies in the 4th quarter worth $84,000. Finally, Park Square Financial Group LLC bought a new position in UFP Technologies during the 4th quarter worth about $107,000. Institutional investors and hedge funds own 87.28% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UFPT shares. Raymond James Financial began coverage on shares of UFP Technologies in a research note on Friday, March 28th. They issued a "market perform" rating on the stock. Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the stock a "buy" rating in a report on Wednesday, May 7th.

UFP Technologies Price Performance

Shares of NASDAQ:UFPT traded up $4.20 during midday trading on Thursday, hitting $232.88. The stock had a trading volume of 33,799 shares, compared to its average volume of 108,431. The company's 50-day moving average price is $240.25 and its 200-day moving average price is $234.53. UFP Technologies, Inc. has a fifty-two week low of $178.26 and a fifty-two week high of $366.41. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.80 billion, a P/E ratio of 28.53 and a beta of 1.11.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The industrial products company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.05 by $0.42. UFP Technologies had a net margin of 11.59% and a return on equity of 21.27%. The business had revenue of $148.15 million during the quarter, compared to the consensus estimate of $139.93 million.

Insider Buying and Selling at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,473 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $220.12, for a total transaction of $324,236.76. Following the completion of the sale, the senior vice president directly owned 12,585 shares in the company, valued at $2,770,210.20. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% 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.