New York State Common Retirement Fund Sells 51,576 Shares of UFP Technologies, Inc. $UFPT

New York State Common Retirement Fund reduced its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 50.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,312 shares of the industrial products company’s stock after selling 51,576 shares during the quarter. New York State Common Retirement Fund owned about 0.67% of UFP Technologies worth $10,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of UFP Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,327 shares of the industrial products company’s stock worth $873,000 after purchasing an additional 190 shares during the period. Millennium Management LLC boosted its stake in UFP Technologies by 123.1% during the first quarter. Millennium Management LLC now owns 93,773 shares of the industrial products company’s stock worth $18,915,000 after buying an additional 51,741 shares during the period. Jones Financial Companies Lllp purchased a new position in UFP Technologies during the first quarter worth $172,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in UFP Technologies by 11.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,856 shares of the industrial products company’s stock valued at $2,593,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of UFP Technologies by 383.0% in the first quarter. Jane Street Group LLC now owns 23,605 shares of the industrial products company’s stock valued at $4,761,000 after acquiring an additional 18,718 shares during the period. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on UFPT. Zacks Research raised shares of UFP Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut UFP Technologies from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, UFP Technologies has an average rating of “Hold” and an average target price of $289.00.

UFP Technologies Stock Down 1.7%

Shares of NASDAQ UFPT opened at $251.45 on Wednesday. UFP Technologies, Inc. has a 52-week low of $178.26 and a 52-week high of $289.57. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 29.14 and a beta of 1.11. The stock has a 50 day moving average price of $237.40 and a 200 day moving average price of $220.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.36 and a current ratio of 2.41.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Monday, November 3rd. The industrial products company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.17. UFP Technologies had a return on equity of 20.45% and a net margin of 11.23%.The business had revenue of $154.56 million during the quarter, compared to analyst estimates of $149.56 million. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis.

Insider Buying and Selling at UFP Technologies

In other news, SVP Christopher P. Litterio sold 1,829 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $227.20, for a total transaction of $415,548.80. Following the transaction, the senior vice president directly owned 10,756 shares in the company, valued at approximately $2,443,763.20. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

UFP Technologies Profile

UFP Technologies, Inc (NASDAQ: UFPT) is a global designer and manufacturer of custom-engineered products using plastics, foams and adhesives. The company partners with customers to develop application-specific solutions through a range of in-house processes, including foam fabrication, die cutting, sheet processing, lamination, machining and assembly services. Its components find use in industries requiring precise material properties, such as medical devices, aerospace, defense, electronics and transportation.

Building on its origins as a specialty foam converter, UFP Technologies has expanded its capabilities to include advanced material technologies, such as thermal management and electromagnetic interference (EMI) shielding solutions.