Multiple Factors Pushed UFP Technologies (UFPT) Shares in Q4

Diamond Hill Capital, an investment management company, released its “Small Cap Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 6.98% net of fees, outperforming the benchmark Russell 2000 Index, which returned 6.23%. Strength in health care, consumer discretionary, and materials holdings contributed to the fund’s outperformance in the quarter while holdings in energy and information technology detracted from the performance.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Capital highlighted stocks like UFP Technologies, Inc. (NASDAQ:UFPT) in the fourth quarter 2022 investor letter. Headquartered in Newburyport, Massachusetts, UFP Technologies, Inc. (NASDAQ:UFPT) is a manufacturer of components, subassemblies, products, and packaging utilizing specialized foams, films, and plastics for the medical industry. On January 24, 2023, UFP Technologies, Inc. (NASDAQ:UFPT) stock closed at $113.99 per share. One-month return of UFP Technologies, Inc. (NASDAQ:UFPT) was 1.59%, and its shares gained 65.01% of their value over the last 52 weeks. UFP Technologies, Inc. (NASDAQ:UFPT) has a market capitalization of $863.885 million.

Diamond Hill Capital made the following comment about UFP Technologies, Inc. (NASDAQ:UFPT) in its Q4 2022 investor letter:

“UFP Technologies, Inc. (NASDAQ:UFPT) is an innovative designer and custom manufacturer of components, subassemblies, products and packaging primarily for the medical market. Shares rose in Q4 as growing demand for the company’s single-use/single-patient medical supplies has been driving sharply increased customer orders and sales. UFPT’s recent acquisitions have also outperformed expectations, and management continues delivering effectively on its stated three- to five-year revenue, gross margin and operating margin targets. We believe the company is well-positioned for the period ahead given its intentional focus on and expertise with specialty materials for the global medical device market, which is large and growing.”

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UFP Technologies, Inc. (NASDAQ:UFPT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 8 hedge fund portfolios held UFP Technologies, Inc. (NASDAQ:UFPT) at the end of the third quarter, which was 5 in the previous quarter.

We discussed UFP Technologies, Inc. (NASDAQ:UFPT) in another article and shared Cove Street Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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