Ultrapar Participações S.A. (NYSE:UGP) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 986,220 shares of the oil and gas company's stock after buying an additional 247,755 shares during the period. Bank of America Corp DE owned 0.09% of Ultrapar Participações worth $2,594,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in UGP. Renaissance Technologies LLC lifted its holdings in Ultrapar Participações by 74.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,513,800 shares of the oil and gas company's stock valued at $9,241,000 after purchasing an additional 1,497,300 shares in the last quarter. Marshall Wace LLP lifted its holdings in Ultrapar Participações by 18.7% during the fourth quarter. Marshall Wace LLP now owns 2,821,125 shares of the oil and gas company's stock valued at $7,420,000 after purchasing an additional 444,724 shares in the last quarter. American Century Companies Inc. lifted its holdings in Ultrapar Participações by 6.5% during the fourth quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock valued at $4,671,000 after purchasing an additional 108,213 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Ultrapar Participações by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock valued at $3,616,000 after purchasing an additional 1,215,605 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Ultrapar Participações by 162.2% during the fourth quarter. Wellington Management Group LLP now owns 599,642 shares of the oil and gas company's stock valued at $1,577,000 after purchasing an additional 370,960 shares in the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Ultrapar Participações currently has a consensus rating of "Moderate Buy" and an average price target of $3.20.

Ultrapar Participações Trading Up 0.5%

Ultrapar Participações stock traded up $0.02 during midday trading on Thursday, hitting $2.92. 1,755,372 shares of the stock were exchanged, compared to its average volume of 1,697,436. Ultrapar Participações S.A. has a fifty-two week low of $2.53 and a fifty-two week high of $4.51. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 2.39 and a beta of 1.03. The stock's 50-day simple moving average is $2.99 and its 200 day simple moving average is $2.91. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76.

About Ultrapar Participações

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.