Ultrapar Participacoes S.A. (NYSE:UGP) Rating Lowered to Hold at HSBC Holdings plc

HSBC Holdings plc lowered shares of Ultrapar Participacoes S.A. (NYSE:UGP) from a buy rating to a hold rating in a research report sent to investors on Tuesday, August 8th, MarketBeat reports.

Several other research firms have also issued reports on UGP. BidaskClub upgraded Ultrapar Participacoes from a hold rating to a buy rating in a research note on Saturday, August 5th. Citigroup Inc. downgraded Ultrapar Participacoes from a buy rating to a neutral rating in a report on Tuesday, April 11th. Finally, Zacks Investment Research downgraded Ultrapar Participacoes from a hold rating to a sell rating in a report on Thursday, July 13th. 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 company. Ultrapar Participacoes presently has an average rating of Hold and a consensus price target of $24.00.

Ultrapar Participacoes (NYSE UGP) traded up 0.68% during trading on Tuesday, reaching $22.26. 609,579 shares of the company’s stock traded hands. The company has a 50 day moving average of $23.28 and a 200 day moving average of $22.67. Ultrapar Participacoes has a one year low of $18.38 and a one year high of $24.79. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 26.88 and a beta of 1.12.

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The firm also recently declared a semiannual dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 21st will be issued 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 is presently 98.75%.

A number of large investors have recently modified their holdings of UGP. Advisors Asset Management Inc. increased its stake in shares of Ultrapar Participacoes by 2.6% in the first quarter. Advisors Asset Management Inc. now owns 135,554 shares of the oil and gas company’s stock valued at $3,081,000 after buying an additional 3,496 shares in the last quarter. Fisher Asset Management LLC increased its stake in Ultrapar Participacoes by 10.8% in the first quarter. Fisher Asset Management LLC now owns 279,283 shares of the oil and gas company’s stock worth $6,348,000 after buying an additional 27,166 shares during the period. Bank of New York Mellon Corp increased its stake in Ultrapar Participacoes by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 104,419 shares of the oil and gas company’s stock worth $2,374,000 after buying an additional 1,499 shares during the period. Russell Investments Group Ltd. purchased a new stake in Ultrapar Participacoes during the fourth quarter worth approximately $502,000. Finally, Ruffer LLP increased its stake in Ultrapar Participacoes by 193.3% in the first quarter. Ruffer LLP now owns 1,447,471 shares of the oil and gas company’s stock worth $33,249,000 after buying an additional 954,016 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

About Ultrapar Participacoes