California State Teachers Retirement System Sells 236 Shares of UFP Technologies, Inc. $UFPT

Key Points

• California State Teachers Retirement System reduced its UFP Technologies stake by 2.6%, selling 236 shares and retaining 8,926 shares valued at approximately $2.37 million. Institutional investors collectively own 87.28% of the company.
• UFP Technologies exceeded quarterly expectations, reporting $2.92 in earnings per share versus the $2.31 estimate and revenue of $173.96 million, above the $159.38 million consensus.
• Company insiders sold 25,919 shares worth $8.17 million over the past three months, while analysts maintain a consensus “Hold” rating. The stock recently traded at $276.04, below its 52-week high of $338.71.

California State Teachers Retirement System cut its holdings in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,926 shares of the industrial products company's stock after selling 236 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of UFP Technologies worth $2,366,550 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in UFPT. BlackRock Inc. purchased a new stake in shares of UFP Technologies during the 2nd quarter valued at approximately $302,622,000. Wasatch Advisors LP boosted its holdings in UFP Technologies by 5.6% in the first quarter. Wasatch Advisors LP now owns 777,313 shares of the industrial products company's stock valued at $150,488,000 after purchasing an additional 41,286 shares during the last quarter. Boston Trust Walden Corp raised its stake 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 valued at $61,385,000 after acquiring an additional 84,396 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of UFP Technologies by 14.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 189,863 shares of the industrial products company's stock worth $36,832,000 after acquiring an additional 23,728 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in UFP Technologies by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 179,973 shares of the industrial products company's stock valued at $34,840,000 after acquiring an additional 11,131 shares during the period. Hedge funds and other institutional investors own 87.28% of the company's stock.

Insider Activity

In other news, Chairman R. Bailly sold 10,682 shares of UFP Technologies stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $318.63, for a total value of $3,403,605.66. Following the completion of the sale, the chairman directly owned 18,024 shares in the company, valued at approximately $5,742,987.12. The trade was a 37.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Kozin sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $304.50, for a total transaction of $2,131,500.00. Following the sale, the director directly owned 21,112 shares of the company's stock, valued at approximately $6,428,604. This trade represents a 24.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 25,919 shares of company stock valued at $8,173,084 over the last three months. Corporate insiders own 4.59% of the company's stock.

UFP Technologies Stock Performance

UFPT traded down $1.95 during trading on Tuesday, hitting $276.04. 74,049 shares of the stock were exchanged, compared to its average volume of 194,429. The stock has a fifty day moving average price of $281.31 and a two-hundred day moving average price of $239.09. The firm has a market capitalization of $2.14 billion, a P/E ratio of 29.75 and a beta of 1.08. UFP Technologies, Inc. has a 1-year low of $173.86 and a 1-year high of $338.71. The company has a quick ratio of 1.72, a current ratio of 3.00 and a debt-to-equity ratio of 0.26.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.61. UFP Technologies had a net margin of 11.45% and a return on equity of 18.42%. The business had revenue of $173.96 million during the quarter, compared to the consensus estimate of $159.38 million. As a group, sell-side analysts predict that UFP Technologies, Inc. will post 10.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

UFPT has been the subject of several research reports. Weiss Ratings upgraded shares of UFP Technologies from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded UFP Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus 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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