United Parcel Service, Inc. $UPS Shares Sold by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC reduced its holdings in United Parcel Service, Inc. by 68.4%, ending the second quarter with only 2,116 shares valued at $214,000.
• United Parcel Service recently reported quarterly earnings of $1.55 per share, slightly missing analysts' expectations, while its revenue of $21.20 billion surpassed forecasts.
• The company declared a quarterly dividend of $1.64 per share, translating to an annual yield of 7.6%, with a payout ratio of 97.62%.

Mattern Capital Management LLC decreased its position in United Parcel Service, Inc. (NYSE:UPS - Free Report) by 68.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,116 shares of the transportation company's stock after selling 4,580 shares during the period. Mattern Capital Management LLC's holdings in United Parcel Service were worth $214,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Graybill Wealth Management LTD. acquired a new position in United Parcel Service during the first quarter worth about $26,000. Citizens National Bank Trust Department raised its position in shares of United Parcel Service by 525.0% during the 1st quarter. Citizens National Bank Trust Department now owns 250 shares of the transportation company's stock worth $27,000 after purchasing an additional 210 shares during the last quarter. Hemington Wealth Management lifted its stake in United Parcel Service by 68.9% in the 1st quarter. Hemington Wealth Management now owns 282 shares of the transportation company's stock valued at $31,000 after buying an additional 115 shares in the last quarter. Saudi Central Bank purchased a new stake in United Parcel Service in the 1st quarter valued at approximately $32,000. Finally, Flaharty Asset Management LLC acquired a new stake in United Parcel Service during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 60.26% of the company's stock.

United Parcel Service Trading Up 1.4%

UPS stock opened at $86.79 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a market cap of $73.56 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.58 and a beta of 1.10. The business has a fifty day simple moving average of $86.20 and a 200-day simple moving average of $95.48. United Parcel Service, Inc. has a 52 week low of $82.00 and a 52 week high of $145.01.

United Parcel Service (NYSE:UPS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.01). The firm had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $20.90 billion. United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. United Parcel Service's revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $1.79 EPS. On average, equities research analysts expect that United Parcel Service, Inc. will post 7.95 EPS for the current year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service's payout ratio is currently 97.62%.

Insider Transactions at United Parcel Service

In other United Parcel Service news, Director Christiana Smith Shi bought 500 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $88.17 per share, with a total value of $44,085.00. Following the purchase, the director owned 500 shares in the company, valued at approximately $44,085. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Johnson bought 5,000 shares of United Parcel Service stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the acquisition, the director directly owned 10,160 shares in the company, valued at approximately $878,840. This represents a 96.90% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 17,182 shares of company stock valued at $1,477,382 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UPS. Vertical Research reissued a "hold" rating and issued a $103.00 price target on shares of United Parcel Service in a report on Wednesday, July 30th. Weiss Ratings reissued a "sell (d+)" rating on shares of United Parcel Service in a research note on Saturday, September 27th. Susquehanna decreased their price target on shares of United Parcel Service from $110.00 to $100.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Evercore ISI cut their price objective on shares of United Parcel Service from $103.00 to $97.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. Finally, Bank of America reduced their price objective on shares of United Parcel Service from $83.00 to $81.00 and set an "underperform" rating on the stock in a research note on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, United Parcel Service has an average rating of "Hold" and an average target price of $110.16.

About United Parcel Service

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.

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