New York State Common Retirement Fund Boosts Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

New York State Common Retirement Fund lifted its stake in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 37.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,997 shares of the industrial products company's stock after buying an additional 25,497 shares during the period. New York State Common Retirement Fund owned approximately 1.22% of UFP Technologies worth $18,960,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of UFP Technologies in the first quarter worth about $2,971,000. Farther Finance Advisors LLC increased its holdings in shares of UFP Technologies by 422.5% in the first quarter. Farther Finance Advisors LLC now owns 1,186 shares of the industrial products company's stock worth $242,000 after buying an additional 959 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in shares of UFP Technologies by 25.8% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company's stock worth $208,000 after buying an additional 212 shares during the period. Park Avenue Securities LLC purchased a new position in shares of UFP Technologies in the first quarter worth about $564,000. Finally, GAMMA Investing LLC increased its holdings in shares of UFP Technologies by 28,138.9% in the first quarter. GAMMA Investing LLC now owns 26,827 shares of the industrial products company's stock worth $5,411,000 after buying an additional 26,732 shares during the period. Hedge funds and other institutional investors own 87.28% of the company's stock.

Insider Transactions at UFP Technologies

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $220.12, for a total transaction of $324,236.76. Following the transaction, the senior vice president owned 12,585 shares in the company, valued at approximately $2,770,210.20. This represents a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

UFP Technologies Trading Down 1.7%

NASDAQ:UFPT traded down $4.05 during mid-day trading on Friday, reaching $227.95. 65,303 shares of the company's stock traded hands, compared to its average volume of 108,487. UFP Technologies, Inc. has a 12-month low of $178.26 and a 12-month high of $366.41. The firm 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. The company has a 50 day moving average price of $240.22 and a 200-day moving average price of $234.49.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on UFPT. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial began coverage on UFP Technologies in a report on Friday, March 28th. They set a "market perform" rating on the stock.

UFP Technologies Company 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.