Virtu Financial LLC Trims Stake in Ultrapar Participações S.A. (NYSE:UGP)

Virtu Financial LLC reduced its position in Ultrapar Participações S.A. (NYSE:UGP - Free Report) by 83.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,447 shares of the oil and gas company's stock after selling 96,961 shares during the quarter. Virtu Financial LLC's holdings in Ultrapar Participações were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Hennessy Advisors Inc. raised its stake in Ultrapar Participações by 6.8% during the 4th 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 during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Ultrapar Participações during the third quarter worth approximately $1,595,000. The Manufacturers Life Insurance Company raised its stake in shares of Ultrapar Participações by 6.6% during the third quarter. The Manufacturers Life Insurance Company now owns 251,203 shares of the oil and gas company's stock worth $975,000 after purchasing an additional 15,517 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ultrapar Participações by 194.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 159,142 shares of the oil and gas company's stock valued at $617,000 after buying an additional 105,133 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ultrapar Participações in the 4th quarter valued at $374,000. 3.58% of the stock is currently owned by hedge funds and other institutional investors.

Ultrapar Participações Price Performance

Ultrapar Participações stock traded down $0.24 during mid-day trading on Friday, reaching $2.95. The company had a trading volume of 2,184,976 shares, compared to its average volume of 1,600,681. The stock's 50-day simple moving average is $2.94 and its 200-day simple moving average is $3.14. Ultrapar Participações S.A. has a 1 year low of $2.53 and a 1 year high of $5.79. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.57 and a quick ratio of 1.11. The company has a market capitalization of $3.28 billion, a P/E ratio of 6.40, a P/E/G ratio of 2.39 and a beta of 1.10.

Ultrapar Participações Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UGP. Hsbc Global Res raised shares of Ultrapar Participações from a "hold" rating to a "strong-buy" rating in a report on Friday, January 17th. Scotiabank upgraded shares of Ultrapar Participações to a "hold" rating in a research report on Friday, December 27th. HSBC upgraded Ultrapar Participações from a "hold" rating to a "buy" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. raised Ultrapar Participações from a "neutral" rating to an "overweight" rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised Ultrapar Participações from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $4.10 to $3.20 in a report on Friday, January 31st. Two equities 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $3.20.

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.