Diamond Hill Capital Management Inc. Trims Position in UFP Technologies, Inc. (NASDAQ:UFPT)

Diamond Hill Capital Management Inc. decreased its stake in shares of UFP Technologies, Inc. (NASDAQ:UFPT - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,192 shares of the industrial products company's stock after selling 2,472 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.17% of UFP Technologies worth $3,226,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its position in shares of UFP Technologies by 1.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 4,256 shares of the industrial products company's stock worth $1,041,000 after acquiring an additional 52 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of UFP Technologies by 24.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the industrial products company's stock worth $81,000 after acquiring an additional 66 shares during the last quarter. Anchor Capital Advisors LLC boosted its position in shares of UFP Technologies by 1.5% during the fourth quarter. Anchor Capital Advisors LLC now owns 4,532 shares of the industrial products company's stock worth $1,108,000 after acquiring an additional 69 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in UFP Technologies by 1.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 5,870 shares of the industrial products company's stock valued at $1,435,000 after purchasing an additional 70 shares in the last quarter. Finally, KBC Group NV raised its stake in UFP Technologies by 42.4% during the third quarter. KBC Group NV now owns 272 shares of the industrial products company's stock valued at $86,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 87.28% of the company's stock.

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Insider Activity

In other news, Director Daniel C. Croteau sold 6,846 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $228.41, for a total value of $1,563,694.86. Following the sale, the director now owns 1,785 shares of the company's stock, valued at approximately $407,711.85. This represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of UFP Technologies from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd.

UFP Technologies Price Performance

UFP Technologies stock traded up $7.71 during mid-day trading on Wednesday, reaching $214.69. 118,423 shares of the company's stock traded hands, compared to its average volume of 74,782. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 30.63 and a beta of 1.15. The stock has a 50 day moving average of $249.27 and a two-hundred day moving average of $279.87. The company has a quick ratio of 1.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. UFP Technologies, Inc. has a 12-month low of $193.70 and a 12-month high of $366.41.

UFP Technologies (NASDAQ:UFPT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The industrial products company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.45. UFP Technologies had a net margin of 11.74% and a return on equity of 18.92%. The business had revenue of $144.07 million for the quarter, compared to the consensus estimate of $141.67 million.

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.