Maryland State Retirement & Pension System Lowers Stake in UFP Technologies, Inc. (NASDAQ:UFPT)

Maryland State Retirement & Pension System lowered its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT) by 13.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,128 shares of the industrial products company’s stock after selling 332 shares during the period. Maryland State Retirement & Pension System’s holdings in UFP Technologies were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of UFPT. Boston Trust Walden Corp lifted its holdings in UFP Technologies by 98.4% during the first quarter. Boston Trust Walden Corp now owns 214,147 shares of the industrial products company’s stock worth $43,196,000 after buying an additional 106,197 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of UFP Technologies during the 4th quarter valued at $16,808,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of UFP Technologies by 55.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 178,411 shares of the industrial products company’s stock valued at $43,625,000 after purchasing an additional 63,899 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of UFP Technologies by 508.8% during the 4th quarter. Royal Bank of Canada now owns 69,145 shares of the industrial products company’s stock valued at $16,907,000 after purchasing an additional 57,787 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of UFP Technologies by 261.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 75,194 shares of the industrial products company’s stock valued at $15,167,000 after purchasing an additional 54,382 shares during the last quarter. Hedge funds and other institutional investors own 87.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital increased their price objective on UFP Technologies from $252.00 to $289.00 and gave the company a “buy” rating in a report on Wednesday, August 6th.

UFP Technologies Stock Performance

Shares of UFPT opened at $219.54 on Friday. UFP Technologies, Inc. has a 12 month low of $178.26 and a 12 month high of $366.41. The stock has a fifty day moving average price of $235.49 and a 200-day moving average price of $230.33. The company has a current ratio of 2.77, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.69 billion, a PE ratio of 25.44 and a beta of 1.14.

UFP Technologies (NASDAQ:UFPT) last issued its earnings results on Monday, August 4th. The industrial products company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.25. The company had revenue of $151.18 million during the quarter, compared to analyst estimates of $151.55 million. UFP Technologies had a return on equity of 21.54% and a net margin of 11.40%. The firm’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the business posted $1.86 EPS.

About UFP Technologies

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.