Ultrapar Participações (NYSE:UGP) Stock Price Down 2.6% – Here’s Why

Ultrapar Participações S.A. (NYSE:UGP)’s share price was down 2.6% on Thursday . The company traded as low as $2.59 and last traded at $2.59. Approximately 1,474,847 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,537,426 shares. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Ultrapar Participações from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.20.

Ultrapar Participações Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.11 and a current ratio of 1.57. The company has a market cap of $2.89 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. The business’s fifty day moving average is $3.26 and its two-hundred day moving average is $3.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UGP. Marshall Wace LLP raised its holdings in Ultrapar Participações by 332.6% in the second quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company’s stock worth $5,591,000 after purchasing an additional 1,099,433 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Ultrapar Participações by 57.9% in the second quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company’s stock worth $9,581,000 after purchasing an additional 898,600 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Ultrapar Participações during the third quarter worth $1,595,000. Acadian Asset Management LLC lifted its holdings in shares of Ultrapar Participações by 8.4% during the 2nd quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company’s stock valued at $14,713,000 after purchasing an additional 293,036 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Ultrapar Participações in the 3rd quarter worth $452,000. 3.58% of the stock is currently owned by institutional investors.

Ultrapar Participações Company 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.