The BidaskClub Downgrades Ultrapar Participacoes SA (NYSE:UGP) to Hold

Judith Bessette
Agosto 13, 2017

Goldman Sachs Group Inc. increased its position in shares of Ultrapar Participacoes S.A. (NYSE:UGP) by 33.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). Finally, Zacks Investment Research cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research note on Thursday, April 27th. BidaskClub lowered Ultrapar Participacoes from a buy rating to a hold rating in a research note on Friday, July 28th.

Ultrapar Participacoes (NYSE:UGP) traded up 0.240% on Friday, reaching $22.965. PNC Financial Services Group Inc. now owns 6,695 shares of the oil and gas company's stock worth $151,000 after buying an additional 782 shares during the period. The stock is trading at $21.86 significantly lower than the 50 day moving average of $23.37 and which is marginally under the 200 day moving average of $22.62. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 26.70 and a beta of 1.12.

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Ultrapar Participacoes during the fourth quarter worth $502,000. Advisors Asset Management Inc. now owns 135,554 shares of the oil and gas company's stock valued at $3,081,000 after buying an additional 3,496 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Ultrapar Participacoes by 5.3% in the first quarter. Advisor Group Inc. boosted its stake in shares of Ultrapar Participacoes by 30.7% in the second quarter. Comerica Bank now owns 31,538 shares of the oil and gas company's stock worth $658,000 after buying an additional 3,556 shares in the last quarter. Finally, Airain ltd acquired a new stake in Ultrapar Participacoes during the first quarter valued at about $304,000. Dimensional Fund Advisors Lp now owns 438,257 shares with a value of $10,302,000.

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The company also recently announced a semiannual dividend, which will be paid on Tuesday, September 5th. Bank of New York Mellon Corp now owns 104,419 shares of the oil and gas company's stock valued at $2,374,000 after buying an additional 1,499 shares during the period. If you are reading this story on another domain, it was illegally copied and republished in violation of global copyright and trademark laws. This represents a yield of 2.41%. Ultrapar Participacoes now has a consensus rating of "Hold" and a consensus price target of $24.00. The ex-dividend date of this dividend is Thursday, August 17th. The correct version of this article can be read at https://sportsperspectives.com/2017/08/13/ultrapar-participacoes-s-a-ugp-rating-lowered-to-underperform-at-bank-of-america-corporation.html.

Ultrapar Participacoes has decreased its dividend by an average of 9.0% per year over the last three years.

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