Zacks Investment Research lowered shares of Ultrapar Participacoes (NYSE:UGP) from a buy rating to a hold rating in a report released on Friday morning.
According to Zacks, “Ultrapar Participacoes S.A., a major Brazilian industrial group, is one of the largest distributors of liquefied petroleum gas in Brazil and a leading producer of petrochemicals and chemical. Ultrapar is also engaged in the storage and transportation of liquefied petroleum gas and petrochemical and chemical products. (PRESS RELEASE) “
Ultrapar Participacoes (UGP) traded up $0.07 during trading on Friday, hitting $24.05. 600,756 shares of the company traded hands, compared to its average volume of 331,971. Ultrapar Participacoes has a 1-year low of $20.09 and a 1-year high of $25.39. The company has a quick ratio of 1.98, a current ratio of 2.51 and a debt-to-equity ratio of 1.11. The stock has a market cap of $13,342.59, a price-to-earnings ratio of 26.35 and a beta of 1.05.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its position in shares of Ultrapar Participacoes by 30.7% in the 2nd quarter. Advisor Group Inc. now owns 4,331 shares of the oil and gas company’s stock worth $102,000 after buying an additional 1,018 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Ultrapar Participacoes in the 2nd quarter worth about $210,000. Jarislowsky Fraser Ltd purchased a new stake in shares of Ultrapar Participacoes in the 3rd quarter worth about $240,000. Envestnet Asset Management Inc. boosted its position in shares of Ultrapar Participacoes by 41.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,758 shares of the oil and gas company’s stock worth $256,000 after buying an additional 3,126 shares in the last quarter. Finally, Boston Common Asset Management LLC boosted its position in shares of Ultrapar Participacoes by 4.6% in the 2nd quarter. Boston Common Asset Management LLC now owns 15,450 shares of the oil and gas company’s stock worth $364,000 after buying an additional 680 shares in the last quarter. Institutional investors and hedge funds own 4.38% of the company’s stock.
Ultrapar Participacoes Company Profile
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