UFP Technologies, Inc. $UFPT Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its UFP Technologies stake by 25,730.1% in the second quarter, acquiring 2.36 million additional shares and ending with a roughly 30.54% ownership stake valued at $627.4 million.
• Other institutional investors, including BlackRock, Wasatch Advisors, and Boston Trust Walden, also held or increased positions; institutions collectively own 87.28% of UFPT. Company insiders, however, sold 25,919 shares worth $8.17 million over the past three months.
• UFP Technologies exceeded quarterly expectations, reporting $2.92 in EPS on $173.96 million in revenue, compared with estimates of $2.31 EPS and $159.38 million revenue. Despite one analyst upgrade, the stock retains an overall “Hold” rating.

California State Teachers Retirement System boosted its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 25,730.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,366,550 shares of the industrial products company's stock after purchasing an additional 2,357,388 shares during the period. California State Teachers Retirement System owned approximately 30.54% of UFP Technologies worth $627,443,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of UFP Technologies during the second quarter valued at $302,622,000. Wasatch Advisors LP lifted its position in UFP Technologies by 5.6% during the 1st quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company's stock worth $150,488,000 after acquiring an additional 41,286 shares during the period. Boston Trust Walden Corp lifted its position in UFP Technologies by 36.3% during the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company's stock worth $61,385,000 after acquiring an additional 84,396 shares during the period. Allspring Global Investments Holdings LLC grew its stake in UFP Technologies by 14.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 189,863 shares of the industrial products company's stock valued at $36,832,000 after purchasing an additional 23,728 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in UFP Technologies by 6.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 179,973 shares of the industrial products company's stock valued at $34,840,000 after purchasing an additional 11,131 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company's stock.

Insiders Place Their Bets

In other news, Director Symeria Hudson sold 298 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $319.11, for a total transaction of $95,094.78. Following the completion of the transaction, the director directly owned 927 shares of the company's stock, valued at $295,814.97. This represents a 24.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Marc Kozin sold 7,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $304.50, for a total value of $2,131,500.00. Following the transaction, the director owned 21,112 shares in the company, valued at $6,428,604. This trade represents a 24.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,919 shares of company stock valued at $8,173,084 in the last three months. 4.59% of the stock is currently owned by company insiders.

UFP Technologies Stock Performance

Shares of NASDAQ UFPT opened at $277.99 on Tuesday. The company has a market capitalization of $2.15 billion, a PE ratio of 29.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 3.00. The company's fifty day moving average price is $281.31 and its 200 day moving average price is $239.09. UFP Technologies, Inc. has a 1 year low of $173.86 and a 1 year high of $338.71.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last posted its earnings results on Monday, August 3rd. The industrial products company reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.61. The firm had revenue of $173.96 million for the quarter, compared to analysts' expectations of $159.38 million. UFP Technologies had a return on equity of 18.42% and a net margin of 11.45%. On average, research analysts predict that UFP Technologies, Inc. will post 10.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UFPT. Wall Street Zen raised UFP Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, UFP Technologies has an average rating of "Hold".

About UFP Technologies

UFP Technologies, Inc is a designer and contract manufacturer of comprehensive solutions for the medical device industry. The company works with medical technology companies to develop and produce components, subassemblies, finished devices, and sterile or non-sterile packaging used in surgical, diagnostic, therapeutic, and other healthcare applications.

Its capabilities include product development and engineering, precision machining, injection molding, thermoforming, textile fabrication, bonding, assembly, and packaging.

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