Clint Carlson‘s Carlson Capital has taken steps to reduce its exposure to Ultratech Inc (NASDAQ:UTEK) as reported in a recently amended filing with the Securities and Exchange Commission. The fund now holds 2.64 million shares of the company, down from 3.45 million shares owned as of the end of the first quarter. The current position accounts for approximately 9.89% of the company’s outstanding stock.
A manufacturer of optical-technology-based tools, Ultratech Inc (NASDAQ:UTEK) has a market cap of $675 million and does not pay a dividend. So far this year, the stock has been mainly on an uptrend, gaining roughly 29% through yesterday’s close. The company recently reported its second quarter financial results, which managed to surpass the market’s expectations. Ultratech reported net income of $2.6 million or $0.23 per share when adjusted for stock option expense and amortization costs. Analysts’ had projected earnings of $0.21 per share. Revenue came in at $48.9 million, also topping forecasts of $48.6 million.
Although it’s not an overly popular stock among the funds followed by Insider Monkey, Ultratech Inc (NASDAQ:UTEK) managed to gain some popularity among them during the first quarter, as the number of those funds that were invested in it rose to 11 at the end of March, from nine registered a quarter earlier. Together these funds held nearly 25% of the company’s common stock. Phill Gross and Robert Atchinson, the managers of Adage Capital Management, reduced their fund’s holding in the stock by 3% to 1.18 million shares during the quarter, while Ken Hahn’s Quentec Asset Management hiked its Ultratech stake by 175% to 541,291 shares.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Double Black Diamond Offshore Ltd||0||1,339,830||0||1,339,830||1,339,830||EXCLUDES CERTAIN SHARES 5.01%|
|Black Diamond Relative Value Offshore Ltd||0||1,000,625||0||1,000,625||1,000,625||EXCLUDES CERTAIN SHARES 3.74%|
|Black Diamond Relative Value Cayman||0||182,634||0||182,634||182,634||EXCLUDES CERTAIN SHARES 0.68%|
|Black Diamond Offshore Ltd||0||52,008||0||52,008||52,008||EXCLUDES CERTAIN SHARES 0.19%|
|Black Diamond SRI Offshore Ltd||0||44,200||0||44,200||44,200||EXCLUDES CERTAIN SHARES 0.17%|
|Carlson Capital||0||2,643,986||0||2,643,986||2,643,986||EXCLUDES CERTAIN SHARES 9.89%|
|Asgard Investment Corp. II||0||2,643,986||0||2,643,986||2,643,986||EXCLUDES CERTAIN SHARES 9.89%|
|Asgard Investment Corp||0||2,643,986||0||2,643,986||2,643,986||EXCLUDES CERTAIN SHARES 9.89%|
|Clint D. Carlson||0||2,643,986||0||2,643,986||2,643,986||EXCLUDES CERTAIN SHARES 9.89%|
Page 1 of 16 – SEC Filing
(Name of Issuer)
|Common Stock, par value $0.01 per share|
(Title of Class of Securities)
|(Name, Address and Telephone Number of Person|
|Authorizsed to Receive Notices and Communications)|
|July 26, 2016|
|Date of Event Which Requires Filing of This Statement)|
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.