Acadian Asset Management LLC Has $4.27 Million Position in Ultrapar Participacoes S.A. $UGP

Key Points

• Acadian Asset Management LLC cut its stake in Ultrapar Participacoes S.A. by 51.4%, selling 1,468,640 shares and now owning 1,387,453 shares worth approximately $4.27 million.
• Scotiabank and Wall Street Zen upgraded their ratings on the company from "hold" to "strong-buy", contributing to a consensus "Buy" rating and a price target of $3.20.
• Ultrapar Participacoes declared a semi-annual dividend of $0.0555 per share, resulting in a dividend yield of 360.0% and a payout ratio of 22.22%.

Acadian Asset Management LLC lowered its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 51.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,387,453 shares of the oil and gas company's stock after selling 1,468,640 shares during the quarter. Acadian Asset Management LLC owned 0.12% of Ultrapar Participacoes worth $4,273,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UGP. Mercer Global Advisors Inc. ADV acquired a new position in Ultrapar Participacoes during the fourth quarter valued at $29,000. CWM LLC raised its position in Ultrapar Participacoes by 55.6% during the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock valued at $29,000 after buying an additional 3,380 shares during the period. Wolverine Trading LLC acquired a new position in Ultrapar Participacoes in the 4th quarter worth about $35,000. Wealthquest Corp acquired a new position in Ultrapar Participacoes in the 1st quarter worth about $45,000. Finally, Ballentine Partners LLC acquired a new position in Ultrapar Participacoes in the 1st quarter worth about $45,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participacoes Stock Performance

Shares of UGP stock traded down $0.10 during mid-day trading on Friday, reaching $3.89. The stock had a trading volume of 1,195,624 shares, compared to its average volume of 1,457,306. The firm's 50 day simple moving average is $3.34 and its 200 day simple moving average is $3.15. The company has a quick ratio of 1.38, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. Ultrapar Participacoes S.A. has a one year low of $2.53 and a one year high of $4.05. The firm has a market cap of $4.33 billion, a PE ratio of 8.63, a P/E/G ratio of 3.93 and a beta of 1.11.

Ultrapar Participacoes Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were given a dividend of $0.0555 per share. This represents a dividend yield of 360.0%. The ex-dividend date was Monday, August 25th. Ultrapar Participacoes's dividend payout ratio (DPR) is 22.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 28th. Wall Street Zen raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Ultrapar Participacoes presently has an average rating of "Buy" and a consensus target price of $3.20.

About Ultrapar Participacoes

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.