Ultrapar Participacoes SA (NYSE:UGP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “
Separately, TheStreet upgraded Ultrapar Participacoes SA from a “hold” rating to a “buy” rating in a research note on Monday, September 12th.
Ultrapar Participacoes SA (NYSE:UGP) opened at 21.56 on Tuesday. Ultrapar Participacoes SA has a one year low of $12.93 and a one year high of $24.50. The firm has a 50-day moving average price of $22.72 and a 200-day moving average price of $21.00. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 24.92 and a beta of 1.32.
The business also recently announced a dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a $0.255 dividend. The ex-dividend date of this dividend was Thursday, August 18th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Americafirst Capital Management LLC bought a new position in Ultrapar Participacoes SA during the second quarter worth about $362,000. Fisher Asset Management LLC raised its position in Ultrapar Participacoes SA by 5.1% in the second quarter. Fisher Asset Management LLC now owns 238,662 shares of the company’s stock worth $5,124,000 after buying an additional 11,567 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Ultrapar Participacoes SA by 23.9% in the second quarter. BNP Paribas Arbitrage SA now owns 53,200 shares of the company’s stock worth $1,171,000 after buying an additional 10,271 shares during the last quarter. HBK Investments L P raised its position in Ultrapar Participacoes SA by 29.3% in the first quarter. HBK Investments L P now owns 43,576 shares of the company’s stock worth $840,000 after buying an additional 9,876 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Ultrapar Participacoes SA by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 473,952 shares of the company’s stock worth $9,138,000 after buying an additional 42,433 shares during the last quarter.
Ultrapar Participacoes SA Company Profile
Ultrapar Participacoes SA is a Brazil-based holding company that operates in four segments: fuel distribution through Ipiranga; chemicals through Oxiteno; Liquefied Petroleum Gas (LPG) distribution through Ultragaz; and logistics for liquid bulk through Ultracargo. Ipiranga is a fuel distributor in Brazil, with a network of service stations, providing diesel, gasoline, ethanol, natural gas for vehicles, fuel oil and kerosene, besides lubricants.
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