Ultrapar Participacoes S.A. $UGP Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Ultrapar Participacoes stake by 419.7% in the second quarter, acquiring 208,319 additional shares and bringing its holdings to 257,957 shares valued at approximately $1.3 million.
• Ultrapar insiders sold 38,585 shares worth $286,648 over the past 90 days, including sales by an insider and the CEO. Insiders own approximately 1.8% of the company, while institutional investors own 3.58%.
• UGP shares opened at $7.57, near their 12-month high of $7.63. The company slightly exceeded quarterly EPS expectations, and analysts maintain a “Moderate Buy” consensus rating, though the average price target of $6.54 is below the current share price.

Engineers Gate Manager LP increased its holdings in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 419.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,957 shares of the oil and gas company's stock after acquiring an additional 208,319 shares during the quarter. Engineers Gate Manager LP's holdings in Ultrapar Participacoes were worth $1,295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LP increased its position in Ultrapar Participacoes by 2.7% in the 2nd quarter. Corient Private Wealth LP now owns 62,497 shares of the oil and gas company's stock valued at $314,000 after acquiring an additional 1,651 shares during the period. Sequoia Financial Advisors LLC grew its position in Ultrapar Participacoes by 2.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 64,807 shares of the oil and gas company's stock valued at $357,000 after buying an additional 1,784 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Ultrapar Participacoes by 45.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company's stock valued at $35,000 after buying an additional 1,982 shares during the last quarter. Hsbc Holdings PLC increased its stake in Ultrapar Participacoes by 0.7% in the 1st quarter. Hsbc Holdings PLC now owns 450,668 shares of the oil and gas company's stock valued at $2,483,000 after buying an additional 3,050 shares during the period. Finally, Sei Investments Co. increased its stake in Ultrapar Participacoes by 6.0% in the 1st quarter. Sei Investments Co. now owns 84,176 shares of the oil and gas company's stock valued at $464,000 after buying an additional 4,779 shares during the period. Hedge funds and other institutional investors own 3.58% of the company's stock.

Insider Transactions at Ultrapar Participacoes

In other news, insider Pedro Guedes Rabelo sold 30,000 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $7.58, for a total transaction of $227,400.00. Following the completion of the sale, the insider owned 57,898 shares in the company, valued at approximately $438,866.84. The trade was a 34.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Decio De Sampaio Amaral sold 8,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the completion of the transaction, the chief executive officer directly owned 151,432 shares in the company, valued at approximately $1,049,423.76. This represents a 5.02% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 38,585 shares of company stock worth $286,648. Company insiders own 1.80% of the company's stock.

Ultrapar Participacoes Price Performance

NYSE:UGP opened at $7.57 on Friday. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The company has a current ratio of 1.64, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company's 50-day moving average is $6.59 and its two-hundred day moving average is $5.81. Ultrapar Participacoes S.A. has a 12-month low of $3.60 and a 12-month high of $7.63.

Ultrapar Participacoes (NYSE:UGP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $8.18 billion. Ultrapar Participacoes had a net margin of 2.28% and a return on equity of 18.84%. Research analysts expect that Ultrapar Participacoes S.A. will post 0.84 EPS for the current year.

Ultrapar Participacoes Announces Dividend

The company also recently announced a dividend, which was paid on Monday, September 14th. Investors of record on Wednesday, August 26th were issued a $0.1932 dividend. The ex-dividend date was Wednesday, August 26th. This represents a yield of 599.0%. Ultrapar Participacoes's dividend payout ratio (DPR) is presently 50.82%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UGP shares. Scotiabank reaffirmed a "sector perform" rating on shares of Ultrapar Participacoes in a report on Thursday. UBS Group raised their price objective on shares of Ultrapar Participacoes from $7.20 to $7.90 and gave the company a "buy" rating in a research note on Friday, September 4th. Bank of America raised shares of Ultrapar Participacoes from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $6.80 to $7.40 in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Ultrapar Participacoes from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. Finally, The Goldman Sachs Group dropped their target price on shares of Ultrapar Participacoes from $6.50 to $5.80 and set a "neutral" rating for the company in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.54.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian holding company with operations focused on fuel distribution, liquefied petroleum gas and bulk liquid storage. The company traces its origins to 1937, when it was established as Companhia Brasileira de Gás a Domicílio, the predecessor of Ultragaz. Ultrapar's American depositary shares trade on the New York Stock Exchange under the symbol UGP.

Its principal businesses include Ipiranga, a fuel distribution company that supplies gasoline, ethanol, diesel and other fuels through a nationwide network of service stations.

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