Utz Brands, Inc. $UTZ Shares Bought by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its holdings in shares of Utz Brands, Inc. (NYSE:UTZ) by 42.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 327,853 shares of the company’s stock after acquiring an additional 97,271 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Utz Brands were worth $3,983,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in Utz Brands in the second quarter valued at $25,000. Osaic Holdings Inc. increased its position in shares of Utz Brands by 76.1% in the 2nd quarter. Osaic Holdings Inc. now owns 3,756 shares of the company’s stock worth $47,000 after purchasing an additional 1,623 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Utz Brands by 16.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,394 shares of the company’s stock worth $93,000 after purchasing an additional 1,023 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Utz Brands by 505.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,900 shares of the company’s stock valued at $137,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Utz Brands by 79.6% during the second quarter. Tower Research Capital LLC TRC now owns 11,088 shares of the company’s stock worth $139,000 after purchasing an additional 4,914 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.

Insider Transactions at Utz Brands

In other news, major shareholder Series R. Of Um Partners, Llc bought 12,420 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $9.60 per share, for a total transaction of $119,232.00. Following the transaction, the insider owned 628,594 shares in the company, valued at approximately $6,034,502.40. This trade represents a 2.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dylan Lissette purchased 7,010 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of $9.99 per share, for a total transaction of $70,029.90. Following the purchase, the director directly owned 160,694 shares of the company’s stock, valued at $1,605,333.06. This trade represents a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 29,020 shares of company stock worth $283,851. Corporate insiders own 16.32% of the company’s stock.

Utz Brands Trading Up 0.4%

NYSE:UTZ opened at $10.97 on Monday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 156.71, a P/E/G ratio of 1.37 and a beta of 0.92. The business has a 50 day simple moving average of $10.22 and a 200 day simple moving average of $11.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.22 and a quick ratio of 0.80. Utz Brands, Inc. has a 12-month low of $9.15 and a 12-month high of $14.67.

Utz Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were given a dividend of $0.063 per share. This is an increase from Utz Brands’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, December 15th. Utz Brands’s payout ratio is currently 357.14%.

Analyst Ratings Changes

UTZ has been the subject of several research analyst reports. Piper Sandler lowered their price objective on Utz Brands from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 13th. DA Davidson set a $15.00 price target on Utz Brands in a report on Wednesday, January 14th. Bank of America reduced their price objective on Utz Brands from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Zacks Research downgraded shares of Utz Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 14th. Finally, Barclays reissued an “overweight” rating and set a $14.00 target price on shares of Utz Brands in a report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Utz Brands presently has a consensus rating of “Hold” and an average price target of $14.38.

Utz Brands Company Profile

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.