Hsbc Holdings PLC lowered its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 22.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 309,210 shares of the oil and gas company's stock after selling 88,341 shares during the quarter. Hsbc Holdings PLC's holdings in Ultrapar Participacoes were worth $951,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Ultrapar Participacoes in the fourth quarter worth about $29,000. CWM LLC increased its holdings in Ultrapar Participacoes by 55.6% in the 1st quarter. CWM LLC now owns 9,463 shares of the oil and gas company's stock worth $29,000 after buying an additional 3,380 shares during the period. Wolverine Trading LLC purchased a new position in Ultrapar Participacoes during the 4th quarter worth approximately $35,000. Wealthquest Corp acquired a new stake in Ultrapar Participacoes during the 1st quarter valued at approximately $45,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Ultrapar Participacoes in the 1st quarter valued at $45,000. 3.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
UGP has been the subject of several recent research reports. Scotiabank raised shares of Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a report on Monday, July 28th. Wall Street Zen raised Ultrapar Participacoes from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $3.20.
Check Out Our Latest Analysis on Ultrapar Participacoes
Ultrapar Participacoes Price Performance
NYSE UGP traded up $0.01 during trading hours on Thursday, reaching $3.64. The company's stock had a trading volume of 1,580,408 shares, compared to its average volume of 1,504,390. The firm has a market capitalization of $4.05 billion, a price-to-earnings ratio of 8.08, a P/E/G ratio of 3.59 and a beta of 1.11. The company's 50-day moving average is $3.21 and its two-hundred day moving average is $3.07. 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 S.A. has a 1-year low of $2.53 and a 1-year high of $4.36.
Ultrapar Participacoes Cuts Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Monday, September 8th. Stockholders of record on Monday, August 25th will be given a dividend of $0.0555 per share. The ex-dividend date is Monday, August 25th. This represents a dividend yield of 360.0%. Ultrapar Participacoes's dividend payout ratio (DPR) is 22.22%.
About Ultrapar Participacoes
(
Free Report)
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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