Nordea Investment Management AB Takes $431,000 Position in Ultrapar Participacoes S.A. (UGP)

Nordea Investment Management AB bought a new stake in Ultrapar Participacoes S.A. (NYSE:UGP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,300 shares of the oil and gas company’s stock, valued at approximately $431,000.

Several other large investors have also made changes to their positions in the company. Aberdeen Asset Management PLC UK increased its stake in shares of Ultrapar Participacoes by 5.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 4,278,967 shares of the oil and gas company’s stock valued at $100,685,000 after buying an additional 226,350 shares in the last quarter. Genesis Asset Managers LLP increased its position in Ultrapar Participacoes by 228.4% in the second quarter. Genesis Asset Managers LLP now owns 3,070,132 shares of the oil and gas company’s stock worth $72,240,000 after purchasing an additional 2,135,204 shares during the period. Bank of America Corp DE increased its position in Ultrapar Participacoes by 934.1% in the first quarter. Bank of America Corp DE now owns 1,017,169 shares of the oil and gas company’s stock worth $23,120,000 after purchasing an additional 918,809 shares during the period. State Street Corp increased its position in Ultrapar Participacoes by 13.3% in the first quarter. State Street Corp now owns 927,977 shares of the oil and gas company’s stock worth $21,091,000 after purchasing an additional 108,723 shares during the period. Finally, Northern Trust Corp increased its position in Ultrapar Participacoes by 6.3% in the second quarter. Northern Trust Corp now owns 684,886 shares of the oil and gas company’s stock worth $16,115,000 after purchasing an additional 40,796 shares during the period. Institutional investors own 3.97% of the company’s stock.

A number of analysts recently commented on UGP shares. BidaskClub upgraded Ultrapar Participacoes from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded Ultrapar Participacoes from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. HSBC Holdings plc lowered Ultrapar Participacoes from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation lowered Ultrapar Participacoes from a “neutral” rating to an “underperform” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Ultrapar Participacoes presently has a consensus rating of “Hold”.

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Shares of Ultrapar Participacoes S.A. (NYSE:UGP) opened at 24.20 on Wednesday. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 29.48 and a beta of 1.13. Ultrapar Participacoes S.A. has a 12 month low of $18.38 and a 12 month high of $25.39. The company has a 50-day moving average price of $24.03 and a 200-day moving average price of $23.34.

About Ultrapar Participacoes

Institutional Ownership by Quarter for Ultrapar Participacoes (NYSE:UGP)

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