New York State Common Retirement Fund Purchases 25,497 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

New York State Common Retirement Fund raised its position in UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 37.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,997 shares of the industrial products company's stock after purchasing an additional 25,497 shares during the quarter. New York State Common Retirement Fund owned approximately 1.22% of UFP Technologies worth $18,960,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversify Wealth Management LLC lifted its position in shares of UFP Technologies by 9.0% during the 1st quarter. Diversify Wealth Management LLC now owns 3,297 shares of the industrial products company's stock worth $698,000 after purchasing an additional 271 shares during the last quarter. Palisades Investment Partners LLC raised its stake in UFP Technologies by 1.6% during the 1st quarter. Palisades Investment Partners LLC now owns 35,476 shares of the industrial products company's stock valued at $7,156,000 after purchasing an additional 549 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in UFP Technologies by 261.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 75,194 shares of the industrial products company's stock valued at $15,167,000 after purchasing an additional 54,382 shares during the last quarter. Principal Financial Group Inc. raised its stake in UFP Technologies by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 40,274 shares of the industrial products company's stock valued at $8,124,000 after purchasing an additional 1,166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in UFP Technologies during the 1st quarter valued at $2,971,000. Hedge funds and other institutional investors own 87.28% of the company's stock.

Insider Buying and Selling at UFP Technologies

In related news, SVP Christopher P. Litterio sold 1,473 shares of the company's 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

UFPT has been the topic of a number of recent research reports. Raymond James Financial assumed coverage on UFP Technologies in a research report on Friday, March 28th. They issued a "market perform" rating on the stock. Lake Street Capital set a $252.00 price objective on UFP Technologies and gave the stock a "buy" rating in a research note on Wednesday, May 7th.

UFP Technologies Price Performance

UFPT traded down $4.05 during trading on Friday, hitting $227.95. 65,304 shares of the stock traded hands, compared to its average volume of 108,132. UFP Technologies, Inc. has a twelve month low of $178.26 and a twelve month high of $366.41. The company has a market cap 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 business has a 50 day moving average price of $240.05 and a 200 day moving average price of $234.30.

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

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.