Short Interest in Ultrapar Participações S.A. (NYSE:UGP) Drops By 39.5%

Ultrapar Participações S.A. (NYSE:UGPGet Rating) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,390,000 shares, a decrease of 39.5% from the March 15th total of 3,950,000 shares. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is currently 1.9 days.

A number of research firms have recently weighed in on UGP. StockNews.com upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a report on Friday, April 8th. Zacks Investment Research upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a report on Thursday, March 17th. Finally, TheStreet upgraded shares of Ultrapar Participações from a “c” rating to a “b-” rating in a report on Monday, April 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $2.92.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. OneAscent Financial Services LLC increased its stake in shares of Ultrapar Participações by 18.8% during the fourth quarter. OneAscent Financial Services LLC now owns 24,171 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 3,831 shares in the last quarter. Profund Advisors LLC increased its stake in shares of Ultrapar Participações by 16.7% during the fourth quarter. Profund Advisors LLC now owns 37,045 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 5,295 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in shares of Ultrapar Participações by 32.9% during the fourth quarter. Wetherby Asset Management Inc. now owns 27,289 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 6,753 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Ultrapar Participações by 6.7% during the third quarter. BNP Paribas Arbitrage SA now owns 126,812 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 7,944 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of Ultrapar Participações by 24.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 49,900 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 9,900 shares in the last quarter. 6.75% of the stock is owned by institutional investors and hedge funds.

UGP traded up $0.01 on Friday, hitting $3.15. The company had a trading volume of 1,132,525 shares, compared to its average volume of 1,360,813. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.98 and a quick ratio of 1.67. Ultrapar Participações has a 52-week low of $2.18 and a 52-week high of $4.34. The stock has a fifty day simple moving average of $2.87 and a 200-day simple moving average of $2.68. The firm has a market capitalization of $4.22 billion, a P/E ratio of 24.23, a P/E/G ratio of 0.78 and a beta of 1.12.

Ultrapar Participações (NYSE:UGPGet Rating) last announced its earnings results on Wednesday, February 23rd. The oil and gas company reported $0.05 earnings per share for the quarter. Ultrapar Participações had a net margin of 0.71% and a return on equity of 10.89%. The business had revenue of $6.17 billion during the quarter. Equities research analysts expect that Ultrapar Participações will post 0.18 earnings per share for the current fiscal year.

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, March 21st. Shareholders of record on Monday, March 7th were paid a dividend of $0.03 per share. This represents a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, March 4th. Ultrapar Participações’s dividend payout ratio is 46.16%.

About Ultrapar Participações (Get Rating)

Ultrapar Participaçoes SA engages in the distribution and retail services including, fuel, liquefied petroleum gas (LPG), retail pharmacy, specialty chemicals and liquid bulk storage businesses. It operates through the following segments: Ultragaz, Ipiranga, Oxiteno, Ultracargo, Extrafarma and Others.

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