Cubist Systematic Strategies LLC Cuts Stock Holdings in Ultrapar Participacoes S.A. $UGP

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Ultrapar Participacoes S.A. by 54.1%, holding 337,312 shares valued at approximately $1,039,000 after selling 397,637 shares.
• Several hedge funds, including CWM LLC and Mercer Global Advisors, have recently increased their positions in Ultrapar, with some acquiring new stakes, indicating investor interest in the company.
• Analysts have upgraded Ultrapar from a "hold" to a "strong-buy" rating, with a consensus price target set at $3.20, suggesting a positive outlook for the stock.

Cubist Systematic Strategies LLC reduced its stake in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 54.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,312 shares of the oil and gas company's stock after selling 397,637 shares during the period. Cubist Systematic Strategies LLC's holdings in Ultrapar Participacoes were worth $1,039,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UGP. Sequoia Financial Advisors LLC increased its stake in Ultrapar Participacoes by 61.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 52,395 shares of the oil and gas company's stock valued at $161,000 after purchasing an additional 19,918 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ultrapar Participacoes by 92.9% in the 1st quarter. GAMMA Investing LLC now owns 17,413 shares of the oil and gas company's stock worth $54,000 after buying an additional 8,388 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Ultrapar Participacoes by 200.9% in the fourth quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company's stock worth $386,000 after acquiring an additional 97,879 shares during the period. Bank of America Corp DE raised its holdings in shares of Ultrapar Participacoes by 33.5% during the fourth quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company's stock valued at $2,594,000 after purchasing an additional 247,755 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Ultrapar Participacoes during the first quarter valued at approximately $831,000. 3.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 28th. Wall Street Zen raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, Ultrapar Participacoes has an average rating of "Buy" and an average price target of $3.20.

Ultrapar Participacoes Stock Performance

Shares of NYSE:UGP traded up $0.04 during mid-day trading on Friday, reaching $3.83. 2,027,935 shares of the company traded hands, compared to its average volume of 1,409,354. Ultrapar Participacoes S.A. has a 52 week low of $2.53 and a 52 week high of $4.21. The firm has a market cap of $4.27 billion, a PE ratio of 8.51, a PEG ratio of 3.74 and a beta of 1.11. The company's 50 day moving average price is $3.27 and its 200-day moving average price is $3.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.82 and a quick ratio of 1.38.

Ultrapar Participacoes Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were given a $0.0555 dividend. This represents a dividend yield of 360.0%. The ex-dividend date was Monday, August 25th. Ultrapar Participacoes's payout ratio is presently 22.22%.

Ultrapar Participacoes Company Profile

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.