Allianz Asset Management GmbH Acquires New Holdings in Ultrapar Participacoes S.A. $UGP

Key Points

• Allianz Asset Management bought 1.34 million shares of Ultrapar Participacoes in the second quarter, worth approximately $6.7 million and representing about 0.12% of the company.
• Ultrapar reported quarterly earnings of $0.28 per share, slightly exceeding estimates, while revenue reached $8 billion. The stock opened at $7.43, near its 52-week high of $7.50.
• Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating, although the average price target is $6.54. The company also declared a $0.1932-per-share dividend, while its CEO sold 8,000 shares.

Allianz Asset Management GmbH purchased a new position in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,335,528 shares of the oil and gas company's stock, valued at approximately $6,704,000. Allianz Asset Management GmbH owned about 0.12% of Ultrapar Participacoes at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Ultrapar Participacoes by 45.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 1,982 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Ultrapar Participacoes in the fourth quarter worth $32,000. R Squared Ltd bought a new position in Ultrapar Participacoes in the first quarter worth $55,000. Allspring Global Investments Holdings LLC acquired a new stake in Ultrapar Participacoes during the first quarter worth $62,000. Finally, GeoWealth Management LLC acquired a new stake in Ultrapar Participacoes during the fourth quarter worth $44,000. Institutional investors own 3.58% of the company's stock.

Ultrapar Participacoes Stock Performance

NYSE UGP opened at $7.43 on Wednesday. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.42 and a beta of 0.73. The company has a 50 day moving average of $6.29 and a 200-day moving average of $5.70. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. Ultrapar Participacoes S.A. has a 1-year low of $3.60 and a 1-year high of $7.50.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last announced its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $8.18 billion. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. On average, equities analysts forecast that Ultrapar Participacoes S.A. will post 0.8 earnings per share for the current fiscal year.

Ultrapar Participacoes Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, September 14th. Investors of record on Wednesday, August 26th will be given a dividend of $0.1932 per share. The ex-dividend date is Wednesday, August 26th. This represents a yield of 599.0%. Ultrapar Participacoes's dividend payout ratio is 50.82%.

Insider Transactions at Ultrapar Participacoes

In other Ultrapar Participacoes news, CEO Decio De Sampaio Amaral sold 8,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the sale, the chief executive officer owned 151,432 shares of the company's stock, valued at $1,049,423.76. This represents a 5.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a "neutral" rating for the company in a research report on Wednesday, August 26th. Bank of America raised Ultrapar Participacoes from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $6.80 to $7.40 in a report on Wednesday, July 8th. Weiss Ratings upgraded Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Finally, UBS Group increased their target price on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a "buy" rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.54.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil's largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.

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