Teacher Retirement System of Texas Sells 2,245 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Teacher Retirement System of Texas trimmed its holdings in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 39.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,430 shares of the industrial products company's stock after selling 2,245 shares during the period. Teacher Retirement System of Texas' holdings in UFP Technologies were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in UFPT. AlphaQuest LLC purchased a new position in UFP Technologies during the 4th quarter valued at $25,000. Johnson Financial Group Inc. purchased a new stake in shares of UFP Technologies during the fourth quarter valued at about $42,000. EverSource Wealth Advisors LLC boosted its stake in UFP Technologies by 24.7% in the fourth 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 during the 4th quarter valued at about $84,000. Finally, Park Square Financial Group LLC acquired a new stake in UFP Technologies in the 4th quarter worth approximately $107,000. Institutional investors own 87.28% of the company's stock.

UFP Technologies Stock Performance

Shares of UFPT traded down $4.05 during midday trading on Friday, reaching $227.95. 65,304 shares of the stock were exchanged, compared to its average volume of 108,464. The business's 50-day moving average price is $240.05 and its 200 day moving average price is $234.37. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 27.90 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.58 and a quick ratio of 1.45. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41.

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

Analysts Set New Price Targets

UFPT has been the topic of several analyst reports. Raymond James Financial began coverage on UFP Technologies in a research report on Friday, March 28th. They set a "market perform" rating on the stock. Lake Street Capital set a $252.00 target price on shares of UFP Technologies and gave the company a "buy" rating in a research report on Wednesday, May 7th.

Insider Activity at UFP Technologies

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