Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in Ultrapar Participações S.A. (NYSE:UGP)

Mirae Asset Global Investments Co. Ltd. lowered its position in Ultrapar Participações S.A. (NYSE:UGP) by 22.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 33,205 shares of the oil and gas company’s stock after selling 9,656 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ultrapar Participações were worth $131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Ultrapar Participações by 8.4% in the second quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock valued at $14,713,000 after buying an additional 293,036 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock valued at $9,581,000 after purchasing an additional 898,600 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Ultrapar Participações in the second quarter valued at approximately $5,887,000. Marshall Wace LLP increased its holdings in shares of Ultrapar Participações by 332.6% in the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock valued at $5,591,000 after purchasing an additional 1,099,433 shares during the period. Finally, Longfellow Investment Management Co. LLC increased its holdings in shares of Ultrapar Participações by 27.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 441,527 shares of the oil and gas company’s stock valued at $1,726,000 after purchasing an additional 94,761 shares during the period. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participações Stock Up 5.4 %

UGP opened at $3.69 on Tuesday. The business’s fifty day moving average is $3.90 and its two-hundred day moving average is $4.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.16 and a current ratio of 1.55. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 7.10, a PEG ratio of 2.67 and a beta of 1.61. Ultrapar Participações S.A. has a one year low of $3.48 and a one year high of $6.34.

Ultrapar Participações (NYSE:UGP) last posted its earnings results on Wednesday, August 7th. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $6.21 billion for the quarter. Ultrapar Participações had a return on equity of 20.24% and a net margin of 2.21%. Analysts anticipate that Ultrapar Participações S.A. will post 0.33 EPS for the current fiscal year.

Ultrapar Participações Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th were given a $0.0446 dividend. The ex-dividend date was Monday, August 19th. This represents a dividend yield of 2.7%. Ultrapar Participações’s dividend payout ratio is currently 15.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UGP shares. Hsbc Global Res raised Ultrapar Participações from a “strong sell” rating to a “hold” rating in a report on Friday, July 19th. HSBC raised Ultrapar Participações from a “reduce” rating to a “hold” rating in a report on Friday, July 19th. StockNews.com raised Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group dropped their price objective on Ultrapar Participações from $5.90 to $5.20 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Profile

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.