Goldman Sachs Group Inc. Sells 388,397 Shares of Ultrapar Participacoes S.A. $UGP

Key Points

• Goldman Sachs Group Inc. reduced its stake in Ultrapar Participacoes S.A. by 16%, selling 388,397 shares and owning approximately 0.18% of the company worth $6.27 million.
• Ultrapar Participacoes received positive upgrades from analysts, with ratings shifting from "hold" to "strong-buy", and the stock now has an average target price of $3.20.
• The company recently announced a dividend of $0.0555 per share, reflecting a high dividend yield of 360% and a dividend payout ratio of 22.22%.

Goldman Sachs Group Inc. lowered its position in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,034,043 shares of the oil and gas company's stock after selling 388,397 shares during the quarter. Goldman Sachs Group Inc. owned about 0.18% of Ultrapar Participacoes worth $6,265,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Polunin Capital Partners Ltd bought a new position in shares of Ultrapar Participacoes in the first quarter worth $26,736,000. American Century Companies Inc. increased its holdings in shares of Ultrapar Participacoes by 6.5% in the first quarter. American Century Companies Inc. now owns 1,892,257 shares of the oil and gas company's stock worth $5,828,000 after purchasing an additional 116,150 shares during the period. Two Sigma Investments LP increased its holdings in shares of Ultrapar Participacoes by 58.2% in the fourth quarter. Two Sigma Investments LP now owns 1,654,373 shares of the oil and gas company's stock worth $4,351,000 after purchasing an additional 608,951 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Ultrapar Participacoes by 18.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,382,300 shares of the oil and gas company's stock worth $3,635,000 after purchasing an additional 220,200 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Ultrapar Participacoes by 76.4% in the fourth quarter. Millennium Management LLC now owns 1,175,452 shares of the oil and gas company's stock worth $3,091,000 after purchasing an additional 509,037 shares during the period. Institutional investors own 3.58% of the company's stock.

Analysts Set New Price Targets

UGP has been the topic of several research analyst reports. Wall Street Zen raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Scotiabank raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $3.20.

Ultrapar Participacoes Stock Up 1.1%

UGP opened at $3.83 on Monday. The stock has a market cap of $4.27 billion, a PE ratio of 8.51, a P/E/G ratio of 3.79 and a beta of 1.10. The company has a quick ratio of 1.38, a current ratio of 1.82 and a debt-to-equity ratio of 0.84. Ultrapar Participacoes S.A. has a 52 week low of $2.53 and a 52 week high of $4.21. The business's fifty day simple moving average is $3.27 and its 200 day simple moving average is $3.11.

Ultrapar Participacoes Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, September 8th. Stockholders of record on Monday, August 25th were paid a dividend of $0.0555 per share. This represents a dividend yield of 360.0%. The ex-dividend date of this dividend was Monday, August 25th. Ultrapar Participacoes's dividend payout ratio (DPR) is 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.

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