Ultrapar Participacoes S.A. $UGP Shares Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Ultrapar Participacoes stake by 10.6% in the first quarter, adding 357,922 shares to own 3.74 million shares valued at approximately $20.6 million.
• Other major investors also expanded their positions, including Deutsche Bank, Millennium Management, Goldman Sachs, and UBS. Institutional investors and hedge funds collectively own 3.58% of Ultrapar’s stock.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $6.32 price target. UGP shares recently traded at $6.46, near their 12-month high of $6.56.

Renaissance Technologies LLC grew its holdings in Ultrapar Participacoes S.A. (NYSE:UGP - Free Report) by 10.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,740,700 shares of the oil and gas company's stock after buying an additional 357,922 shares during the period. Renaissance Technologies LLC owned 0.34% of Ultrapar Participacoes worth $20,611,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Deutsche Bank AG increased its position in Ultrapar Participacoes by 42,357.3% in the 4th quarter. Deutsche Bank AG now owns 2,147,914 shares of the oil and gas company's stock valued at $8,098,000 after acquiring an additional 2,142,855 shares during the period. Millennium Management LLC lifted its position in Ultrapar Participacoes by 306.4% during the 3rd quarter. Millennium Management LLC now owns 2,796,662 shares of the oil and gas company's stock worth $11,466,000 after acquiring an additional 2,108,543 shares during the period. Goldman Sachs Group Inc. lifted its position in Ultrapar Participacoes by 98.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,214,612 shares of the oil and gas company's stock worth $15,889,000 after acquiring an additional 2,087,852 shares during the period. Bank of Montreal Can purchased a new position in shares of Ultrapar Participacoes in the 4th quarter valued at approximately $6,876,000. Finally, UBS Group AG grew its stake in shares of Ultrapar Participacoes by 131.9% in the 3rd quarter. UBS Group AG now owns 2,890,033 shares of the oil and gas company's stock valued at $11,849,000 after purchasing an additional 1,643,562 shares during the last quarter. Institutional investors and hedge funds own 3.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UGP shares. Weiss Ratings restated a "hold (c+)" rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Bank of America upgraded shares of Ultrapar Participacoes from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. UBS Group boosted their price objective on shares of Ultrapar Participacoes from $7.00 to $7.20 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded shares of Ultrapar Participacoes from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Finally, HSBC cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating and raised their target price for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Ultrapar Participacoes currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.32.

Ultrapar Participacoes Trading Up 3.8%

Shares of Ultrapar Participacoes stock opened at $6.46 on Friday. The company has a 50-day moving average of $5.43 and a two-hundred day moving average of $5.34. Ultrapar Participacoes S.A. has a 12-month low of $3.00 and a 12-month high of $6.56. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The stock has a market cap of $7.21 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71.

Ultrapar Participacoes Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil's largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.

Want to see what other hedge funds are holding UGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ultrapar Participacoes S.A. (NYSE:UGP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.