Zacks Investment Research Downgrades Ultrapar Participacoes SA (UGP) to Hold
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 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 raised shares of 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 22.09 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 market cap of $12.00 billion, a price-to-earnings ratio of 25.54 and a beta of 1.32. The stock has a 50 day moving average of $22.65 and a 200 day moving average of $21.03.
The business also recently declared a dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 22nd were issued a $0.255 dividend. The ex-dividend date of this dividend was Thursday, August 18th.
A number of large investors have recently bought and sold shares of UGP. Americafirst Capital Management LLC bought a new stake in Ultrapar Participacoes SA during the second quarter worth approximately $362,000. Fisher Asset Management LLC boosted its stake 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 boosted its stake 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 boosted its stake 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. boosted its stake 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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