Hourglass Capital LLC Buys 3,390 Shares of United Parcel Service, Inc. (NYSE:UPS)

Hourglass Capital LLC lifted its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 11.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,955 shares of the transportation company's stock after purchasing an additional 3,390 shares during the quarter. Hourglass Capital LLC's holdings in United Parcel Service were worth $3,735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UPS. Brighton Jones LLC boosted its holdings in United Parcel Service by 63.8% during the 4th quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company's stock valued at $1,529,000 after acquiring an additional 4,723 shares during the period. Proficio Capital Partners LLC purchased a new stake in United Parcel Service during the 4th quarter valued at about $219,000. E Fund Management Co. Ltd. purchased a new stake in United Parcel Service during the 4th quarter valued at about $228,000. Banco Santander S.A. boosted its holdings in United Parcel Service by 12.7% during the 4th quarter. Banco Santander S.A. now owns 14,195 shares of the transportation company's stock valued at $1,790,000 after acquiring an additional 1,599 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in United Parcel Service by 12.2% during the 4th quarter. Larson Financial Group LLC now owns 8,220 shares of the transportation company's stock valued at $1,037,000 after acquiring an additional 896 shares during the period. 60.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UPS. BNP Paribas upgraded United Parcel Service to a "hold" rating in a report on Thursday, July 3rd. Hsbc Global Res lowered United Parcel Service from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. BMO Capital Markets lowered their price target on United Parcel Service from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $98.00 price target (down previously from $120.00) on shares of United Parcel Service in a research report on Tuesday, April 22nd. Finally, Bank of America upped their price target on United Parcel Service from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $118.96.

United Parcel Service Stock Down 0.2%

UPS stock traded down $0.18 on Wednesday, reaching $102.21. 930,004 shares of the company traded hands, compared to its average volume of 5,226,196. United Parcel Service, Inc. has a one year low of $90.55 and a one year high of $148.15. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $86.55 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.21. The firm has a fifty day simple moving average of $99.02 and a 200-day simple moving average of $109.43.

United Parcel Service (NYSE:UPS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.38 by $0.11. United Parcel Service had a return on equity of 40.15% and a net margin of 6.44%. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $21.25 billion. During the same period last year, the business posted $1.43 EPS. The company's revenue was down .9% compared to the same quarter last year. Research analysts anticipate that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Monday, May 19th were issued a $1.64 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.56 dividend on an annualized basis and a yield of 6.42%. United Parcel Service's dividend payout ratio is currently 95.63%.

United Parcel Service Company 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.