Advisors Asset Management Inc. Increases Stake in Ultrapar Participações S.A. (NYSE:UGP)

Advisors Asset Management Inc. boosted its position in shares of Ultrapar Participações S.A. (NYSE:UGP) by 71.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 134,363 shares of the oil and gas company’s stock after purchasing an additional 56,142 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ultrapar Participações were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UGP. Simplicity Wealth LLC grew its position in Ultrapar Participações by 41.2% during the 2nd quarter. Simplicity Wealth LLC now owns 35,199 shares of the oil and gas company’s stock valued at $138,000 after purchasing an additional 10,264 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Ultrapar Participações by 567.5% during the 2nd quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company’s stock valued at $62,000 after acquiring an additional 13,461 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Ultrapar Participações during the 2nd quarter valued at about $5,887,000. Atomi Financial Group Inc. boosted its holdings in shares of Ultrapar Participações by 13.7% during the 2nd quarter. Atomi Financial Group Inc. now owns 121,470 shares of the oil and gas company’s stock valued at $475,000 after acquiring an additional 14,650 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in shares of Ultrapar Participações during the 2nd quarter valued at about $57,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Ultrapar Participações Stock Performance

UGP opened at $3.06 on Thursday. 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 company has a market cap of $3.41 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 2.50 and a beta of 1.61. The company’s 50 day moving average is $3.65 and its 200 day moving average is $4.03. Ultrapar Participações S.A. has a 12-month low of $3.04 and a 12-month high of $6.34.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Ultrapar Participações from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.20.

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.