CIBC Bancorp USA Inc. Takes Position in Ultrapar Participacoes S.A. $UGP

CIBC Bancorp USA Inc. purchased a new stake in Ultrapar Participacoes S.A. (NYSE:UGP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,570,400 shares of the oil and gas company’s stock, valued at approximately $14,639,000. CIBC Bancorp USA Inc. owned approximately 0.32% of Ultrapar Participacoes as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Ultrapar Participacoes by 42.4% in the second quarter. American Century Companies Inc. now owns 2,695,322 shares of the oil and gas company’s stock worth $8,841,000 after acquiring an additional 803,065 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ultrapar Participacoes by 117.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,084,186 shares of the oil and gas company’s stock worth $16,745,000 after purchasing an additional 2,205,282 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Ultrapar Participacoes by 1,248.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 497,253 shares of the oil and gas company’s stock valued at $1,631,000 after purchasing an additional 460,388 shares in the last quarter. Longfellow Investment Management Co. LLC raised its holdings in shares of Ultrapar Participacoes by 39.6% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 616,345 shares of the oil and gas company’s stock valued at $2,022,000 after purchasing an additional 174,818 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Ultrapar Participacoes in the 3rd quarter valued at $1,552,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

Wall Street Analyst Weigh In

UGP has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Ultrapar Participacoes from a “buy” rating to a “neutral” rating and set a $5.40 price objective for the company. in a report on Thursday, February 5th. Wall Street Zen cut Ultrapar Participacoes from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings downgraded Ultrapar Participacoes from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 11th. Finally, Jefferies Financial Group raised Ultrapar Participacoes from an “underperform” rating to a “hold” rating and increased their price objective for the company from $3.10 to $5.60 in a report on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Ultrapar Participacoes Stock Performance

NYSE:UGP opened at $5.10 on Friday. The firm’s 50-day moving average is $4.85 and its 200-day moving average is $4.25. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.62 and a beta of 0.85. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.26 and a current ratio of 1.62. Ultrapar Participacoes S.A. has a 52-week low of $2.70 and a 52-week high of $5.42.

Ultrapar Participacoes (NYSE:UGP) last released its earnings results on Wednesday, March 4th. The oil and gas company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). Ultrapar Participacoes had a net margin of 1.72% and a return on equity of 14.11%. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.64 billion. Equities research analysts anticipate that Ultrapar Participacoes S.A. will post 0.3 earnings per share for the current year.

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.