Arrowstreet Capital Limited Partnership Sells 877,749 Shares of Ultrapar Participações S.A. (NYSE:UGP)

Arrowstreet Capital Limited Partnership trimmed its stake in Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 48.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 919,060 shares of the oil and gas company's stock after selling 877,749 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.08% of Ultrapar Participações worth $2,417,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Hennessy Advisors Inc. raised its position in Ultrapar Participações by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 1,811,400 shares of the oil and gas company's stock valued at $4,764,000 after acquiring an additional 115,600 shares in the last quarter. American Century Companies Inc. increased its position in Ultrapar Participações by 6.5% during the fourth quarter. American Century Companies Inc. now owns 1,776,107 shares of the oil and gas company's stock worth $4,671,000 after buying an additional 108,213 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Ultrapar Participações by 763.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,374,747 shares of the oil and gas company's stock valued at $3,616,000 after buying an additional 1,215,605 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ultrapar Participações in the third quarter worth about $1,595,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Ultrapar Participações by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 251,203 shares of the oil and gas company's stock worth $975,000 after acquiring an additional 15,517 shares in the last quarter. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HSBC raised Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. Scotiabank raised shares of Ultrapar Participações to a "hold" rating in a report on Friday, December 27th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $4.10 to $3.20 in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Ultrapar Participações from a "neutral" rating to an "overweight" rating in a report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ultrapar Participações currently has an average rating of "Moderate Buy" and an average target price of $3.20.

Ultrapar Participações Price Performance

Shares of UGP traded down $0.02 during mid-day trading on Tuesday, hitting $2.88. 473,215 shares of the company traded hands, compared to its average volume of 1,604,704. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 6.25, a PEG ratio of 2.39 and a beta of 1.10. The business has a 50-day moving average of $2.94 and a 200 day moving average of $3.08. Ultrapar Participações S.A. has a one year low of $2.53 and a one year high of $5.37.

Ultrapar Participações Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued a $0.0774 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a yield of 3.8%. Ultrapar Participações's dividend payout ratio is presently 33.33%.

Ultrapar Participações Profile

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.