Louisiana State Employees Retirement System Makes New Investment in UFP Technologies, Inc. $UFPT

Louisiana State Employees Retirement System purchased a new position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the industrial products company’s stock, valued at approximately $658,000.

A number of other hedge funds have also made changes to their positions in UFPT. Thrivent Financial for Lutherans increased its position in shares of UFP Technologies by 892.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 248,125 shares of the industrial products company’s stock worth $55,091,000 after purchasing an additional 223,121 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of UFP Technologies by 32.4% during the fourth quarter. Congress Asset Management Co. now owns 441,122 shares of the industrial products company’s stock worth $97,942,000 after buying an additional 107,908 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of UFP Technologies by 14.6% in the fourth quarter. Wasatch Advisors LP now owns 736,027 shares of the industrial products company’s stock worth $163,420,000 after buying an additional 93,640 shares in the last quarter. Geneva Capital Management LLC boosted its position in UFP Technologies by 88.6% during the third quarter. Geneva Capital Management LLC now owns 158,496 shares of the industrial products company’s stock worth $31,636,000 after acquiring an additional 74,461 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in UFP Technologies by 60.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,135 shares of the industrial products company’s stock valued at $37,115,000 after acquiring an additional 62,472 shares in the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Buying and Selling

In other news, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $239.29, for a total value of $287,148.00. Following the transaction, the director directly owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel C. Croteau sold 2,864 shares of UFP Technologies stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $221.71, for a total transaction of $634,977.44. Following the completion of the sale, the director owned 855 shares of the company’s stock, valued at $189,562.05. This trade represents a 77.01% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.59% of the stock is currently owned by insiders.

UFP Technologies Trading Down 3.7%

NASDAQ:UFPT traded down $10.09 on Tuesday, reaching $261.99. The company’s stock had a trading volume of 20,987 shares, compared to its average volume of 201,949. The stock has a 50 day moving average price of $229.41 and a 200 day moving average price of $226.91. The company has a quick ratio of 1.69, a current ratio of 2.91 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 29.73 and a beta of 1.07. UFP Technologies, Inc. has a 12-month low of $173.86 and a 12-month high of $279.49.

UFP Technologies (NASDAQ:UFPT) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.30. UFP Technologies had a net margin of 11.27% and a return on equity of 18.47%. The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $154.78 million. During the same period in the previous year, the firm earned $2.47 EPS. UFP Technologies’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts anticipate that UFP Technologies, Inc. will post 10.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on UFPT shares. Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Technologies in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.00.

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.