Diamond Hill Capital Management: “UFP Technologies (UFPT) is Executing Well on its Strategy”

Diamond Hill Capital Management, an investment advisor, released its “Small Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter was challenging for US stocks and the Russell 2000 Index fell by more than 17%. The volatile market condition affected the fund’s portfolio performance; however, the fund performed better compared to the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Diamond Hill Capital Management discussed stocks like UFP Technologies, Inc. (NASDAQ:UFPT). Headquartered in Newburyport, Massachusetts, UFP Technologies, Inc. (NASDAQ:UFPT) is a designer and manufacturer of foams, films, and plastics for the medical market. On September 2, 2022, UFP Technologies, Inc. (NASDAQ:UFPT) stock closed at $92.26 per share. One-month return of UFP Technologies, Inc. (NASDAQ:UFPT) was 3.49% and its shares gained 33.46% of their value over the last 52 weeks. UFP Technologies, Inc. (NASDAQ:UFPT) has a market capitalization of $698.088 million.

Here is what Diamond Hill Capital Management specifically said about UFP Technologies, Inc. (NASDAQ:UFPT):

“UFP Technologies, Inc. (NASDAQ:UFPT is an innovative designer and custom manufacturer of components, subassemblies, packaging and products primarily for the medical market. It is executing well on its strategy to drive growth both organically and via acquisitions. We like management’s focus on its med-tech segment, which is now approximately 80% of its business and has higher margins and greater organic growth potential. The global medical device market is large and growing, as is the overall use of specialty materials that UFPT has experience with across a broad range of applications. We believe there will be growing need for the increasingly specialized/customized aspects of the business.”

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UFP Technologies, Inc. (NASDAQ:UFPT) is not on the list of 30 Most Popular Stocks Among Hedge Funds. UFP Technologies, Inc. (NASDAQ:UFPT) was held by 5 hedge fund portfolios at the end of the second quarter compared to 8 in the previous quarter.

We discussed UFP Technologies, Inc. (NASDAQ:UFPT) in another article and shared Olstein Capital Management’s views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.