Louisiana State Employees Retirement System Buys Shares of 3,400 UFP Technologies, Inc. $UFPT

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

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

Wall Street Analyst Weigh In

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

UFP Technologies Stock Performance

Shares of UFPT stock traded down $10.09 during trading hours on Tuesday, hitting $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 market cap of $2.03 billion, a PE 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. The company has a 50 day moving average of $229.41 and a 200 day moving average of $226.91. The company has a current ratio of 2.91, a quick ratio of 1.69 and a debt-to-equity ratio of 0.32.

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

Insider Activity

In other news, 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 transaction, the director directly owned 855 shares of the company’s stock, valued at $189,562.05. The trade was a 77.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cynthia L. Feldmann sold 1,200 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $239.29, for a total transaction of $287,148.00. Following the sale, the director owned 5,476 shares in the company, valued at approximately $1,310,352.04. This represents a 17.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.59% of the stock is owned by company insiders.

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.