UFP Technologies, Inc. (NASDAQ:UFPT) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its stake in UFP Technologies, Inc. (NASDAQ:UFPT) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,032 shares of the industrial products company’s stock after acquiring an additional 38 shares during the period. Arizona State Retirement System’s holdings in UFP Technologies were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of UFP Technologies by 1,614.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 120 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 113 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of UFP Technologies in the 1st quarter worth approximately $35,000. Principal Securities Inc. acquired a new stake in shares of UFP Technologies in the 4th quarter worth approximately $28,000. Rothschild Investment LLC acquired a new stake in shares of UFP Technologies in the 2nd quarter worth approximately $195,000. Finally, Townsend Asset Management Corp NC ADV acquired a new stake in shares of UFP Technologies in the 2nd quarter worth approximately $209,000. 87.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their target price on shares of UFP Technologies from $344.00 to $392.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th.

UFP Technologies Stock Up 2.0 %

UFPT stock opened at $324.26 on Tuesday. UFP Technologies, Inc. has a 12 month low of $127.29 and a 12 month high of $341.23. The firm has a 50 day simple moving average of $318.68 and a 200 day simple moving average of $269.88. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.13 and a quick ratio of 1.63. The firm has a market cap of $2.49 billion, a PE ratio of 52.13 and a beta of 0.94.

UFP Technologies (NASDAQ:UFPT) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $1.86 earnings per share (EPS) for the quarter. UFP Technologies had a net margin of 11.87% and a return on equity of 17.53%. The business had revenue of $110.18 million for the quarter.

Insider Activity

In other news, CFO Ronald J. Lataille sold 11,466 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total transaction of $3,458,718.90. Following the sale, the chief financial officer now owns 46,130 shares in the company, valued at $13,915,114.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other UFP Technologies news, CFO Ronald J. Lataille sold 11,466 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $301.65, for a total value of $3,458,718.90. Following the transaction, the chief financial officer now owns 46,130 shares in the company, valued at approximately $13,915,114.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ronald J. Lataille sold 1,598 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $319.37, for a total transaction of $510,353.26. Following the completion of the transaction, the chief financial officer now owns 57,596 shares in the company, valued at approximately $18,394,434.52. The disclosure for this sale can be found here. Insiders have sold 68,134 shares of company stock worth $21,494,247 over the last 90 days. 6.17% of the stock is owned by company insiders.

UFP Technologies 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.