Mirae Asset Global Investments Co. Ltd. Reduces Position in Ultrapar Participações S.A. (NYSE:UGP)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Ultrapar Participações S.A. (NYSE:UGP) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,263 shares of the oil and gas company’s stock after selling 2,793 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ultrapar Participações were worth $343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of UGP. Blue Trust Inc. boosted its holdings in shares of Ultrapar Participações by 254.7% in the 4th quarter. Blue Trust Inc. now owns 5,796 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 4,162 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ultrapar Participações in the 3rd quarter valued at $71,000. Aprio Wealth Management LLC purchased a new stake in shares of Ultrapar Participações in the 4th quarter valued at $125,000. Clear Street Markets LLC purchased a new stake in shares of Ultrapar Participações in the 3rd quarter valued at $96,000. Finally, Fulton Bank N.A. purchased a new stake in shares of Ultrapar Participações in the 4th quarter valued at $155,000. Hedge funds and other institutional investors own 3.58% of the company’s stock.

Ultrapar Participações Stock Performance

Shares of NYSE UGP opened at $5.22 on Friday. The company’s fifty day moving average price is $5.67 and its 200 day moving average price is $5.29. Ultrapar Participações S.A. has a 1 year low of $2.74 and a 1 year high of $6.34. The company has a market capitalization of $5.82 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 3.17 and a beta of 1.59. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.28 and a current ratio of 1.66.

Ultrapar Participações (NYSE:UGP) last posted its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported $0.20 earnings per share for the quarter. The company had revenue of $6.75 billion during the quarter. Ultrapar Participações had a net margin of 1.95% and a return on equity of 18.86%. On average, research analysts predict that Ultrapar Participações S.A. will post 0.32 earnings per share for the current year.

Ultrapar Participações Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.0723 per share. The ex-dividend date was Friday, March 8th. This is a boost from Ultrapar Participações’s previous semi-annual dividend of $0.05. This represents a yield of 2%. Ultrapar Participações’s dividend payout ratio is currently 31.11%.

Analysts Set New Price Targets

Several analysts have recently commented on UGP shares. StockNews.com raised shares of Ultrapar Participações from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 24th. Itau BBA Securities downgraded shares of Ultrapar Participações from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Ultrapar Participações from $5.30 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.37.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.