Acadian Asset Management LLC Sells 1,468,640 Shares of 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 reduced its stake in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 51.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387,453 shares of the oil and gas company's stock after selling 1,468,640 shares during the period. Acadian Asset Management LLC owned 0.12% of Ultrapar Participacoes worth $4,273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of UGP. Mercer Global Advisors Inc. ADV bought a new position in Ultrapar Participacoes in the fourth quarter worth about $29,000. CWM LLC raised its stake in Ultrapar Participacoes by 55.6% in the first quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock worth $29,000 after buying an additional 3,380 shares in the last quarter. Wolverine Trading LLC bought a new position in Ultrapar Participacoes in the fourth quarter worth about $35,000. Wealthquest Corp bought a new position in Ultrapar Participacoes in the first quarter worth about $45,000. Finally, Ballentine Partners LLC bought a new position in Ultrapar Participacoes in the first quarter worth about $45,000. 3.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UGP. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 28th. Wall Street Zen raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $3.20.

Ultrapar Participacoes Price Performance

Shares of UGP opened at $3.83 on Monday. The company has a market capitalization of $4.27 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 3.79 and a beta of 1.10. The company has a quick ratio of 1.38, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $3.27 and a 200 day moving average of $3.11. Ultrapar Participacoes S.A. has a twelve month low of $2.53 and a twelve month high of $4.21.

Ultrapar Participacoes Cuts Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, August 25th. This represents a dividend yield of 360.0%. Ultrapar Participacoes's dividend payout ratio (DPR) is 22.22%.

Ultrapar Participacoes Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.