Bank of America Corporation Downgrades Ultrapar Participacoes SA (UGP) to Underperform

Postado Agosto 13, 2017

Institutional investors own 4.28% of the company's stock.

Several large investors have recently modified their holdings of UGP. Fisher Asset Management LLC raised its stake in Ultrapar Participacoes by 10.8% in the first quarter. Ruffer LLP now owns 1,447,471 shares of the oil and gas company's stock valued at $33,249,000 after buying an additional 954,016 shares in the last quarter. Janus Capital Management LLC bought a new stake in shares of Ultrapar Participacoes during the fourth quarter worth $1,049,000. Bank of New York Mellon Corp boosted its position in shares of Ultrapar Participacoes by 1.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,938 shares of the oil and gas company's stock worth $180,000 after buying an additional 400 shares during the period. Finally, Airain ltd acquired a new stake in Ultrapar Participacoes during the first quarter valued at about $304,000. (Ultracargo). The Company operates through five segments: gas distribution (Ultragaz), which distributes liquefied petroleum gas (LPG) to residential, commercial and industrial consumers, primarily in the South, Southeast and Northeast regions of Brazil; fuel distribution (Ipiranga), which is involved in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants and related activities across the Brazilian territory; chemicals (Oxiteno), which produces ethylene oxide, and its primary derivatives and fatty alcohols; storage (Ultracargo), which operates liquid bulk terminals, primarily in the Southeast and Northeast regions of Brazil, and drugstores (Extrafarma), which trades pharmaceutical, hygiene and beauty products through its own drugstore chain in the states of Para, Amapa, Maranhao, Piaui, Ceara and Rio Grande do Norte. Ultrapar Participacoes has a 12 month low of $18.38 and a 12 month high of $24.79.

The stock of Ultrapar Participacoes SA (ADR) (NYSE:UGP) is a huge mover today! About 222,959 shares traded. Ultrapar Participacoes has a dividend payout ratio of 67.9% indicating that its dividend is sufficiently covered by earnings. Manatuck Hill Partners Llc bought 135,000 shares as the company's stock declined 22.65% while stock markets rallied. Shareholders of record on Monday, August 21st will be paid a $0.2694 dividend. This represents a yield of 2.41%. The ex-dividend date is Thursday, August 17th. Ultrapar Participacoes's dividend payout ratio (DPR) is now 65.00%.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Rincon Hill News and is owned by of Rincon Hill News. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & worldwide copyright and trademark legislation. The Firm focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. BidaskClub upgraded shares of Ultrapar Participacoes from a "hold" rating to a "buy" rating in a research report on Saturday, August 5th. HSBC Holdings plc cut shares of Ultrapar Participacoes from a "buy" rating to a "hold" rating in a research note on Tuesday. Zacks Investment Research lowered Ultrapar Participacoes from a hold rating to a sell rating in a report on Thursday, July 13th.

On August 10 the stock rating was downgraded to "Underperform" from " by Bank of America. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Ultrapar Participacoes now has a consensus rating of "Hold" and a consensus price target of $24.00.

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