Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like UFP Technologies, Inc. (NASDAQ:UFPT) in its Q4 2022 investor letter. Headquartered in Newburyport, Massachusetts, UFP Technologies, Inc. (NASDAQ:UFPT) manufacturers solution for medical devices, sterile packaging, and other highly engineered custom products. On March 21, 2023, UFP Technologies, Inc. (NASDAQ:UFPT) stock closed at $121.22 per share. One-month return of UFP Technologies, Inc. (NASDAQ:UFPT) was 5.52%, and its shares gained 83.67% of their value over the last 52 weeks. UFP Technologies, Inc. (NASDAQ:UFPT) has a market capitalization of $937.759 million.
Wasatch Micro Cap Growth—U.S. Strategy made the following comment about UFP Technologies, Inc. (NASDAQ:UFPT) in its Q4 2022 investor letter:
“Another meaningful contributor was UFP Technologies, Inc. (NASDAQ:UFPT), which designs and manufactures a range of high-performance cushion packaging and specialty foam and plastic products for industrial and consumer markets. In the past, UFP also made precision-molded fiber packaging primarily from recycled paper. But the company recently divested from that business segment due to margins being lower than those in other business segments. Conversely, UFP has made acquisitions of firms serving the higher-margin medical industry. The company’s recent revenues and earnings were strong, which boosted the stock price. Moreover, with elective medical procedures ramping up after declines amid the pandemic, we expect UFP will start to experience faster growth and even better margins.”
Copyright: kadmy / 123RF Stock Photo
UFP Technologies, Inc. (NASDAQ:UFPT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held UFP Technologies, Inc. (NASDAQ:UFPT) at the end of the fourth quarter which was 8 in the previous quarter.
We discussed UFP Technologies, Inc. (NASDAQ:UFPT) in another article and shared Diamond Hill 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.
Suggested Articles:
- 16 Best Strong Buy Stocks To Invest In
- 15 Best High Yield Dividend Stocks to Buy
- 15 Most Promising Stocks to Buy According to Analysts
Disclosure: None. This article is originally published at Insider Monkey.
