Bank of America Corp DE trimmed its holdings in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,580,310 shares of the oil and gas company's stock after selling 252,186 shares during the period. Bank of America Corp DE owned about 0.14% of Ultrapar Participacoes worth $8,708,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in Ultrapar Participacoes in the fourth quarter valued at approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 1,982 shares during the last quarter. GeoWealth Management LLC bought a new position in shares of Ultrapar Participacoes in the fourth quarter worth approximately $44,000. EP Wealth Advisors LLC purchased a new position in shares of Ultrapar Participacoes in the fourth quarter worth $45,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Ultrapar Participacoes in the fourth quarter worth $47,000. 3.58% of the stock is owned by institutional investors.
Ultrapar Participacoes Stock Down 0.2%
NYSE UGP opened at $6.72 on Tuesday. Ultrapar Participacoes S.A. has a 12 month low of $3.30 and a 12 month high of $6.80. The stock's 50 day moving average is $5.85 and its 200 day moving average is $5.56. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market cap of $7.50 billion, a PE ratio of 11.02, a P/E/G ratio of 0.41 and a beta of 0.70.
Ultrapar Participacoes (NYSE:UGP - Get Free Report) last posted its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $8 billion during the quarter, compared to analysts' expectations of $8.18 billion. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. Research analysts predict that Ultrapar Participacoes S.A. will post 0.78 EPS for the current fiscal year.
Ultrapar Participacoes Announces Dividend
The firm also recently announced a dividend, which will be paid on Monday, September 14th. Investors of record on Wednesday, August 26th will be issued a $0.1932 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a dividend yield of 634.0%. Ultrapar Participacoes's dividend payout ratio (DPR) is 34.43%.
Analyst Ratings Changes
UGP has been the subject of several research reports. Weiss Ratings upgraded shares of Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 14th. UBS Group lifted their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Bank of America raised Ultrapar Participacoes from a "neutral" rating to a "buy" rating and upped their price objective for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded shares of Ultrapar Participacoes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $6.32.
Get Our Latest Analysis on Ultrapar Participacoes
Ultrapar Participacoes Company Profile
(
Free Report)
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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