UFP Technologies, Inc. (NASDAQ:UFPT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 6.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,978 shares of the industrial products company’s stock after selling 278 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of UFP Technologies worth $802,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in UFP Technologies by 25.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 1,033 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 212 shares during the period. Boston Trust Walden Corp increased its stake in UFP Technologies by 98.4% in the 1st quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company’s stock worth $43,196,000 after purchasing an additional 106,197 shares in the last quarter. Mountain Pacific Investment Advisers LLC increased its stake in UFP Technologies by 1.4% in the 1st quarter. Mountain Pacific Investment Advisers LLC now owns 94,578 shares of the industrial products company’s stock worth $19,077,000 after purchasing an additional 1,262 shares in the last quarter. SG Americas Securities LLC increased its stake in UFP Technologies by 80.2% in the 1st quarter. SG Americas Securities LLC now owns 4,001 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Bridge City Capital LLC increased its stake in UFP Technologies by 72.2% in the 1st quarter. Bridge City Capital LLC now owns 24,889 shares of the industrial products company’s stock worth $5,020,000 after purchasing an additional 10,436 shares in the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Raymond James Financial assumed coverage on UFP Technologies in a research note on Friday, March 28th. They issued a “market perform” rating on the stock. Lake Street Capital set a $252.00 price target on UFP Technologies and gave the stock a “buy” rating in a research note on Wednesday, May 7th.

Insiders Place Their Bets

In other UFP Technologies news, SVP Christopher P. Litterio sold 1,473 shares of UFP Technologies stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $220.12, for a total transaction of $324,236.76. Following the transaction, the senior vice president owned 12,585 shares of the company’s stock, valued at $2,770,210.20. The trade was a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by company insiders.

UFP Technologies Trading Down 2.6%

Shares of UFPT opened at $245.87 on Thursday. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.47. UFP Technologies, Inc. has a 1-year low of $178.26 and a 1-year high of $366.41. The business’s 50-day moving average price is $233.22 and its 200 day moving average price is $234.90. The stock has a market capitalization of $1.90 billion, a P/E ratio of 30.09 and a beta of 1.11.

UFP Technologies (NASDAQ:UFPT) last released its earnings results on Tuesday, May 6th. The industrial products company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.42. UFP Technologies had a return on equity of 21.27% and a net margin of 11.59%. The company had revenue of $148.15 million for the quarter, compared to analysts’ expectations of $139.93 million.

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.