American Century Companies Inc. Has $5.83 Million Position in Ultrapar Participacoes S.A. $UGP

Key Points

• American Century Companies Inc. increased its stake in Ultrapar Participacoes S.A. by 6.5%, now owning approximately 0.17% of the company worth $5.83 million.
• Several hedge funds, including Sequoia Financial Advisors and GAMMA Investing, also raised their stakes in Ultrapar, highlighting growing institutional interest in the company.
• Analysts are optimistic about Ultrapar, with upgrades to a "strong-buy" rating from Wall Street Zen and Scotiabank, along with a consensus target price of $3.20.

American Century Companies Inc. boosted its stake in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,892,257 shares of the oil and gas company's stock after buying an additional 116,150 shares during the quarter. American Century Companies Inc. owned approximately 0.17% of Ultrapar Participacoes worth $5,828,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of Ultrapar Participacoes by 55.6% during the 1st quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 3,380 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Ultrapar Participacoes during the 4th quarter worth $29,000. Wolverine Trading LLC acquired a new stake in Ultrapar Participacoes in the 4th quarter valued at $35,000. Wealthquest Corp acquired a new stake in Ultrapar Participacoes in the 1st quarter valued at $45,000. Finally, Ballentine Partners LLC acquired a new stake in Ultrapar Participacoes in the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 3.58% of the company's stock.

Analysts Set New Price Targets

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

Ultrapar Participacoes Stock Performance

Shares of UGP traded down $0.05 during mid-day trading on Tuesday, reaching $3.61. 1,260,033 shares of the company's stock traded hands, compared to its average volume of 1,853,858. The business's 50-day moving average price is $3.18 and its 200-day moving average price is $3.06. The stock has a market capitalization of $4.02 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 3.61 and a beta of 1.10. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.38 and a current ratio of 1.82. Ultrapar Participacoes S.A. has a 12 month low of $2.53 and a 12 month high of $4.36.

Ultrapar Participacoes Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Investors of record on Monday, August 25th will be issued a dividend of $0.0555 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a yield of 360.0%. Ultrapar Participacoes's payout ratio is presently 22.22%.

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.