Renaissance Technologies LLC Boosts Holdings in Ultrapar Participacoes S.A. $UGP

Renaissance Technologies LLC boosted its holdings in shares of Ultrapar Participacoes S.A. (NYSE:UGP) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,740,700 shares of the oil and gas company’s stock after acquiring an additional 357,922 shares during the period. Renaissance Technologies LLC’s holdings in Ultrapar Participacoes were worth $20,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Ultrapar Participacoes during the 4th quarter worth approximately $32,000. SG Americas Securities LLC purchased a new stake in Ultrapar Participacoes in the 4th quarter valued at approximately $44,000. GeoWealth Management LLC acquired a new stake in Ultrapar Participacoes during the 4th quarter valued at $44,000. EP Wealth Advisors LLC acquired a new stake in Ultrapar Participacoes during the 4th quarter valued at $45,000. Finally, Boothbay Fund Management LLC purchased a new position in Ultrapar Participacoes during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participacoes Stock Performance

Shares of UGP stock opened at $6.46 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 1.67. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 0.51 and a beta of 0.71. Ultrapar Participacoes S.A. has a one year low of $3.00 and a one year high of $6.56. The company has a 50 day moving average price of $5.43 and a 200 day moving average price of $5.34.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. UBS Group lifted their price objective on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Bank of America raised shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.80 to $7.40 in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, HSBC cut shares of Ultrapar Participacoes from a “buy” rating to a “hold” rating and raised their price target for the stock from $4.90 to $6.00 in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.32.

Ultrapar Participacoes Company Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.