Diamond Hill Capital Management Inc. Sells 2,472 Shares of UFP Technologies, Inc. (NASDAQ:UFPT)

Diamond Hill Capital Management Inc. trimmed its holdings in UFP Technologies, Inc. (NASDAQ:UFPT) by 15.8% in the 4th quarter, Holdings Channel reports. 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.’s holdings in UFP Technologies were worth $3,226,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of UFP Technologies by 144.8% in the third quarter. Public Employees Retirement System of Ohio now owns 16,218 shares of the industrial products company’s stock valued at $5,136,000 after purchasing an additional 9,593 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of UFP Technologies by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 67,099 shares of the industrial products company’s stock valued at $21,250,000 after purchasing an additional 2,842 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of UFP Technologies in the third quarter valued at $1,176,000. Principal Financial Group Inc. raised its stake in shares of UFP Technologies by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 39,108 shares of the industrial products company’s stock valued at $9,562,000 after purchasing an additional 1,444 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of UFP Technologies by 32.2% in the third quarter. Jane Street Group LLC now owns 11,581 shares of the industrial products company’s stock valued at $3,668,000 after purchasing an additional 2,822 shares in the last quarter. 87.28% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other UFP Technologies news, Director Daniel C. Croteau sold 6,846 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $228.41, for a total transaction of $1,563,694.86. Following the transaction, the director now owns 1,785 shares in the company, valued at approximately $407,711.85. This trade represents a 79.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered UFP Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd.

UFP Technologies Stock Performance

Shares of NASDAQ:UFPT opened at $210.70 on Friday. UFP Technologies, Inc. has a twelve month low of $188.50 and a twelve month high of $366.41. The firm has a market cap of $1.62 billion, a PE ratio of 30.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.43 and a current ratio of 2.57. The business has a fifty day moving average of $250.44 and a 200-day moving average of $282.36.

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

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.