Ultrapar Participacoes S.A. $UGP Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Ultrapar Participacoes S.A. (NYSE:UGP) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,945 shares of the oil and gas company’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its stake in shares of Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 1,982 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Ultrapar Participacoes in the first quarter valued at approximately $62,000. Royal Bank of Canada raised its position in shares of Ultrapar Participacoes by 165.5% in the first quarter. Royal Bank of Canada now owns 12,390 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 7,724 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Ultrapar Participacoes during the 3rd quarter valued at approximately $81,000. Finally, Nykredit A S purchased a new stake in shares of Ultrapar Participacoes during the 2nd quarter valued at approximately $93,000. Institutional investors own 3.58% of the company’s stock.

Ultrapar Participacoes Stock Down 0.1%

Shares of NYSE UGP opened at $5.42 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. The company has a market cap of $6.04 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.29 and a beta of 0.85. Ultrapar Participacoes S.A. has a 52 week low of $3.60 and a 52 week high of $8.28. The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $5.95.

Ultrapar Participacoes (NYSE:UGP) last announced its quarterly earnings results on Wednesday, August 12th. The oil and gas company reported $0.28 earnings per share for the quarter, beating 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 firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $8.18 billion. Research analysts anticipate that Ultrapar Participacoes S.A. will post 0.86 earnings per share for the current fiscal year.

Ultrapar Participacoes Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 14th. Investors of record on Wednesday, August 26th were paid a dividend of $0.1932 per share. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a yield of 599.0%. Ultrapar Participacoes’s payout ratio is currently 50.82%.

Insider Activity at Ultrapar Participacoes

In related news, CEO Decio De Sampaio Amaral sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $6.93, for a total transaction of $55,440.00. Following the sale, the chief executive officer owned 151,432 shares of the company’s stock, valued at approximately $1,049,423.76. This represents a 5.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andre Saleme Hachem sold 39,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $7.67, for a total transaction of $300,664.00. Following the sale, the chief financial officer directly owned 25,675 shares in the company, valued at $196,927.25. This trade represents a 60.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 77,785 shares of company stock valued at $587,312. Corporate insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

UGP has been the subject of several analyst reports. Scotiabank downgraded shares of Ultrapar Participacoes from a “sector outperform” rating to a “hold” rating in a report on Thursday, September 17th. Zacks Research raised shares of Ultrapar Participacoes from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 15th. Weiss Ratings cut shares of Ultrapar Participacoes from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. downgraded Ultrapar Participacoes from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 22nd. Finally, The Goldman Sachs Group cut their price target on Ultrapar Participacoes from $6.50 to $5.80 and set a “neutral” rating for the company in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.54.

About Ultrapar Participacoes

Ultrapar Participações SA is a Brazilian holding company with businesses focused on fuel distribution, liquefied petroleum gas (LPG) and bulk liquid storage. Its operations serve customers across Brazil, including consumers, businesses and industrial clients.

The company’s main businesses include Ipiranga, which distributes and markets fuels and related products, and Ultragaz, a supplier of LPG for residential, commercial and industrial use. Through Ultracargo, Ultrapar also provides storage and handling services for bulk liquids, including fuels and chemicals.

Ultrapar traces its origins to 1937, when entrepreneur Ernesto Igel founded the business that became Ultragaz.