Ultrapar Participacoes S.A. (NYSE:UGP) Stock Short Interest Rises 61.2%

Ultrapar Participacoes S.A. (NYSE:UGP) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 7,208,171 shares, an increase of 61.2% from the September 15th total of 4,472,882 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 4,120,831 shares, the days-to-cover ratio is currently 1.7 days.

Ultrapar Participacoes Trading Up 0.4%

Shares of NYSE:UGP traded up $0.03 during trading on Friday, reaching $7.67. 804,725 shares of the company were exchanged, compared to its average volume of 3,199,421. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.26. The business’s fifty day simple moving average is $7.12 and its 200-day simple moving average is $6.16. The firm has a market capitalization of $8.56 billion, a PE ratio of 12.58, a P/E/G ratio of 0.44 and a beta of 0.71. Ultrapar Participacoes has a 12-month low of $3.60 and a 12-month high of $8.28.

Ultrapar Participacoes (NYSE:UGP) last issued its earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Ultrapar Participacoes had a return on equity of 18.84% and a net margin of 2.28%. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $8.18 billion. On average, research analysts anticipate that Ultrapar Participacoes will post 0.84 EPS for the current year.

Ultrapar Participacoes Announces Dividend

The business also recently declared a dividend, which was paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th were issued a $0.1932 dividend. The ex-dividend date was Wednesday, August 26th. This represents a dividend yield of 599.0%. Ultrapar Participacoes’s dividend payout ratio (DPR) is currently 50.82%.

Insider Activity at Ultrapar Participacoes

In related news, insider Pedro Guedes Rabelo sold 30,000 shares of Ultrapar Participacoes stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $7.58, for a total value of $227,400.00. Following the completion of the sale, the insider directly owned 57,898 shares in the company, valued at approximately $438,866.84. This trade represents a 34.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andre Saleme Hachem sold 39,200 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $7.67, for a total value of $300,664.00. Following the completion of the transaction, the chief financial officer directly owned 25,675 shares of the company’s stock, valued at approximately $196,927.25. This trade represents a 60.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 77,785 shares of company stock valued at $587,312 over the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Ultrapar Participacoes

A number of large investors have recently made changes to their positions in the business. Allianz Asset Management GmbH purchased a new stake in Ultrapar Participacoes in the second quarter valued at about $6,704,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Ultrapar Participacoes by 235.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 927,216 shares of the oil and gas company’s stock worth $5,109,000 after buying an additional 650,988 shares during the last quarter. Renaissance Technologies LLC boosted its position in Ultrapar Participacoes by 10.6% in the 1st quarter. Renaissance Technologies LLC now owns 3,740,700 shares of the oil and gas company’s stock worth $20,611,000 after purchasing an additional 357,922 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ultrapar Participacoes by 42.7% in the first quarter. Dimensional Fund Advisors LP now owns 945,625 shares of the oil and gas company’s stock valued at $5,210,000 after buying an additional 282,887 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in Ultrapar Participacoes by 419.7% in the second quarter. Engineers Gate Manager LP now owns 257,957 shares of the oil and gas company’s stock valued at $1,295,000 after purchasing an additional 208,319 shares during the period. 3.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on UGP. Bank of America raised Ultrapar Participacoes from a “neutral” rating to a “buy” rating and increased their price target for the company from $6.80 to $7.40 in a report on Wednesday, July 8th. Weiss Ratings cut Ultrapar Participacoes from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Scotiabank lowered shares of Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a research report on Thursday, September 17th. The Goldman Sachs Group decreased their price objective on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating on the stock in a report on Wednesday, August 26th. Finally, UBS Group boosted their price objective on Ultrapar Participacoes from $7.20 to $7.90 and gave the stock a “buy” rating in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.54.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian holding company with operations focused on energy, fuel distribution and logistics. Through its businesses, the company supplies fuels, liquefied petroleum gas (LPG) and related services to consumers, commercial customers and industrial clients.

Its principal businesses include Ipiranga, one of Brazil’s major fuel distribution companies, and Ultragaz, which distributes LPG for residential, commercial and industrial use. Ultrapar also owns Ultracargo, a provider of storage and handling services for liquid bulk products, including fuels, chemicals and other industrial materials.

Ultrapar’s operations are concentrated primarily in Brazil, with activities supported by distribution networks, terminals and storage infrastructure across key regions of the country.