Illinois Municipal Retirement Fund Makes New $763,000 Investment in UFP Technologies, Inc. $UFPT

Illinois Municipal Retirement Fund purchased a new stake in UFP Technologies, Inc. (NASDAQ:UFPT) in the 1st quarter, HoldingsChannel reports. The fund purchased 3,942 shares of the industrial products company’s stock, valued at approximately $763,000.

Several other institutional investors have also recently made changes to their positions in UFPT. Allspring Global Investments Holdings LLC raised its holdings in shares of UFP Technologies by 60.3% during the fourth 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 during the period. UBS Group AG boosted its stake in UFP Technologies by 22.4% in the 4th quarter. UBS Group AG now owns 189,403 shares of the industrial products company’s stock worth $42,053,000 after purchasing an additional 34,715 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in UFP Technologies during the 1st quarter worth approximately $953,000. Maridea Wealth Management LLC purchased a new position in UFP Technologies during the 1st quarter worth approximately $1,465,000. Finally, Boston Trust Walden Corp raised its stake in UFP Technologies by 36.3% during the 1st quarter. Boston Trust Walden Corp now owns 317,072 shares of the industrial products company’s stock valued at $61,385,000 after purchasing an additional 84,396 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insider Activity

In related news, Director Daniel C. Croteau sold 2,864 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $221.71, for a total value of $634,977.44. Following the completion of the sale, the director directly owned 855 shares in the company, valued at approximately $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 this link. Also, Director Cynthia L. Feldmann sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $239.29, for a total value of $287,148.00. Following the sale, the director directly owned 5,476 shares of the company’s stock, valued at $1,310,352.04. The trade was a 17.97% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.59% of the company’s stock.

UFP Technologies Stock Performance

Shares of UFPT stock opened at $236.21 on Friday. UFP Technologies, Inc. has a fifty-two week low of $173.86 and a fifty-two week high of $279.49. The stock’s 50-day moving average is $238.27 and its two-hundred day moving average is $228.25. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.91 and a quick ratio of 1.69. The firm has a market cap of $1.83 billion, a P/E ratio of 26.81 and a beta of 1.07.

UFP Technologies (NASDAQ:UFPT) last posted its earnings results on Monday, May 4th. The industrial products company reported $2.48 EPS for the quarter, topping 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 the consensus estimate of $154.78 million. During the same period in the prior year, the business posted $2.47 earnings per share. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts predict that UFP Technologies, Inc. will post 10.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded UFP Technologies from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reiterated 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, UFP Technologies has an average rating of “Hold” and a consensus price target 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.