World Asset Management Inc Cuts Position in Ultrapar Participacoes S.A. (NYSE:UGP)

World Asset Management Inc lowered its stake in Ultrapar Participacoes S.A. (NYSE:UGP) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,768 shares of the oil and gas company’s stock after selling 1,889 shares during the period. World Asset Management Inc’s holdings in Ultrapar Participacoes were worth $771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. raised its position in shares of Ultrapar Participacoes by 193.5% in the second quarter. Daiwa Securities Group Inc. now owns 150,150 shares of the oil and gas company’s stock worth $3,533,000 after buying an additional 99,000 shares in the last quarter. Flossbach Von Storch AG raised its stake in Ultrapar Participacoes by 3.6% in the second quarter. Flossbach Von Storch AG now owns 71,000 shares of the oil and gas company’s stock valued at $1,671,000 after buying an additional 2,500 shares during the period. Strs Ohio purchased a new stake in Ultrapar Participacoes during the second quarter valued at $564,000. Russell Investments Group Ltd. raised its stake in Ultrapar Participacoes by 195.1% in the second quarter. Russell Investments Group Ltd. now owns 71,032 shares of the oil and gas company’s stock valued at $1,672,000 after buying an additional 46,960 shares during the period. Finally, Aperio Group LLC raised its stake in Ultrapar Participacoes by 8.2% in the second quarter. Aperio Group LLC now owns 157,523 shares of the oil and gas company’s stock valued at $3,707,000 after buying an additional 11,894 shares during the period. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ultrapar Participacoes S.A. (UGP) traded up 0.68% during mid-day trading on Friday, reaching $22.26. The company’s stock had a trading volume of 609,579 shares. The company has a 50 day moving average of $23.28 and a 200-day moving average of $22.67. The firm has a market capitalization of $12.10 billion, a P/E ratio of 26.63 and a beta of 1.12. Ultrapar Participacoes S.A. has a 12 month low of $18.38 and a 12 month high of $24.79.

The firm also recently announced a semiannual dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be given a dividend of $0.2694 per share. This represents a dividend yield of 2.41%. The ex-dividend date is Thursday, August 17th. Ultrapar Participacoes’s payout ratio is presently 65.00%.

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UGP has been the topic of several recent analyst reports. HSBC Holdings plc downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation lowered Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Ultrapar Participacoes presently has a consensus rating of “Hold” and an average target price of $24.00.

About Ultrapar Participacoes

Institutional Ownership by Quarter for Ultrapar Participacoes (NYSE:UGP)

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