Bowen Hanes & Co. Inc. Has $1.46 Million Position in United Parcel Service, Inc. $UPS

Key Points

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Bowen Hanes & Co. Inc. reduced its stake in shares of United Parcel Service, Inc. (NYSE:UPS - Free Report) by 30.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,291 shares of the transportation company's stock after selling 5,830 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in United Parcel Service were worth $1,462,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Graybill Wealth Management LTD. bought a new stake in United Parcel Service in the 1st quarter valued at approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of United Parcel Service during the 4th quarter worth approximately $27,000. Citizens National Bank Trust Department increased its holdings in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after acquiring an additional 210 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in United Parcel Service in the 4th quarter valued at $28,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in United Parcel Service in the 4th quarter valued at $31,000. 60.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William R. Johnson bought 5,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $86.50 per share, with a total value of $432,500.00. Following the completion of the purchase, the director directly owned 10,160 shares in the company, valued at $878,840. This represents a 96.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of the company's stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $85.67 per share, with a total value of $1,000,796.94. Following the purchase, the chief executive officer owned 24,718 shares of the company's stock, valued at approximately $2,117,591.06. This trade represents a 89.61% increase in their position. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by insiders.

United Parcel Service Stock Down 2.2%

Shares of UPS opened at $86.52 on Tuesday. The stock has a market capitalization of $73.33 billion, a PE ratio of 12.88, a P/E/G ratio of 1.62 and a beta of 1.12. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.51. United Parcel Service, Inc. has a 12 month low of $84.28 and a 12 month high of $145.01. The firm's 50 day moving average is $96.98 and its 200-day moving average is $102.54.

United Parcel Service (NYSE:UPS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business's revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 EPS. Equities research analysts forecast that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Monday, August 18th will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. United Parcel Service's payout ratio is presently 97.62%.

Analysts Set New Price Targets

UPS has been the topic of several analyst reports. Galvan Research reduced their target price on United Parcel Service from $126.00 to $124.00 and set a "buy" rating on the stock in a report on Monday, June 30th. DA Davidson dropped their target price on United Parcel Service from $154.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. TD Cowen lowered their price objective on United Parcel Service from $117.00 to $107.00 in a research report on Wednesday, April 30th. UBS Group reduced their price objective on United Parcel Service from $124.00 to $118.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Finally, Morgan Stanley dropped their target price on United Parcel Service from $80.00 to $75.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $112.81.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.

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