Corundum Group Inc. Sells 2,179 Shares of United Parcel Service, Inc. $UPS

Corundum Group Inc. trimmed its holdings in United Parcel Service, Inc. (NYSE:UPS) by 27.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,763 shares of the transportation company’s stock after selling 2,179 shares during the quarter. Corundum Group Inc.’s holdings in United Parcel Service were worth $582,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in UPS. Brighton Jones LLC increased its position in United Parcel Service by 63.8% in the fourth quarter. Brighton Jones LLC now owns 12,126 shares of the transportation company’s stock worth $1,529,000 after purchasing an additional 4,723 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in United Parcel Service by 20.4% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,037 shares of the transportation company’s stock worth $554,000 after purchasing an additional 853 shares during the period. Thrive Wealth Management LLC increased its position in United Parcel Service by 45.3% in the first quarter. Thrive Wealth Management LLC now owns 3,386 shares of the transportation company’s stock worth $372,000 after purchasing an additional 1,056 shares during the period. Breakwater Capital Group increased its position in United Parcel Service by 12.4% in the first quarter. Breakwater Capital Group now owns 2,676 shares of the transportation company’s stock worth $294,000 after purchasing an additional 296 shares during the period. Finally, Vest Financial LLC increased its position in United Parcel Service by 73.5% in the first quarter. Vest Financial LLC now owns 8,436 shares of the transportation company’s stock worth $928,000 after purchasing an additional 3,574 shares during the period. 60.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial lowered their price objective on United Parcel Service from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. Citigroup lowered their price objective on United Parcel Service from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. BMO Capital Markets reiterated a “market perform” rating and issued a $96.00 price objective (down from $125.00) on shares of United Parcel Service in a research report on Friday, September 19th. UBS Group decreased their target price on United Parcel Service from $118.00 to $110.00 and set a “buy” rating for the company in a research report on Friday. Finally, Morgan Stanley decreased their target price on United Parcel Service from $80.00 to $75.00 and set an “underweight” rating for the company in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $110.16.

United Parcel Service Trading Up 1.4%

NYSE:UPS opened at $86.79 on Friday. United Parcel Service, Inc. has a fifty-two week low of $82.00 and a fifty-two week high of $145.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $73.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.10. The business’s 50-day simple moving average is $86.20 and its 200-day simple moving average is $95.48.

United Parcel Service (NYSE:UPS) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.01). United Parcel Service had a net margin of 6.34% and a return on equity of 39.61%. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $20.90 billion. During the same quarter last year, the firm earned $1.79 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts expect that United Parcel Service, Inc. will post 7.95 earnings per share for the current fiscal year.

United Parcel Service Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 18th were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Monday, August 18th. United Parcel Service’s payout ratio is 97.62%.

Insider Activity

In other United Parcel Service news, Director William R. Johnson acquired 5,000 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $86.50 per share, for a total transaction of $432,500.00. Following the acquisition, the director directly owned 10,160 shares of the company’s stock, valued at approximately $878,840. This trade represents a 96.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carol B. Tome acquired 11,682 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $85.67 per share, for a total transaction of $1,000,796.94. Following the acquisition, the chief executive officer directly owned 24,718 shares in the company, valued at $2,117,591.06. This represents a 89.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,182 shares of company stock worth $1,477,382 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

United Parcel Service Company Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.