Walleye Capital LLC Raises Stake in Ultrapar Participacoes S.A. $UGP

Walleye Capital LLC grew its position in Ultrapar Participacoes S.A. (NYSE:UGP) by 118.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,723 shares of the oil and gas company’s stock after purchasing an additional 98,978 shares during the quarter. Walleye Capital LLC’s holdings in Ultrapar Participacoes were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of UGP. Cetera Investment Advisers purchased a new position in shares of Ultrapar Participacoes during the 1st quarter valued at $258,000. Kapitalo Investimentos Ltda boosted its holdings in Ultrapar Participacoes by 4.6% in the 1st quarter. Kapitalo Investimentos Ltda now owns 915,468 shares of the oil and gas company’s stock worth $5,044,000 after buying an additional 40,586 shares during the period. Dimensional Fund Advisors LP increased its stake in Ultrapar Participacoes by 42.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 945,625 shares of the oil and gas company’s stock worth $5,210,000 after buying an additional 282,887 shares in the last quarter. Parallel Advisors LLC increased its stake in Ultrapar Participacoes by 33.8% in the 1st quarter. Parallel Advisors LLC now owns 29,156 shares of the oil and gas company’s stock worth $161,000 after buying an additional 7,366 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Ultrapar Participacoes during the first quarter valued at about $62,000. 3.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on UGP shares. Bank of America upgraded Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.80 to $7.40 in a research report on Wednesday, July 8th. HSBC downgraded Ultrapar Participacoes from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.90 to $6.00 in a research note on Wednesday, April 8th. UBS Group boosted their price target on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Ultrapar Participacoes in a research note on Monday, June 8th. Finally, Wall Street Zen raised shares of Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.32.

Ultrapar Participacoes Stock Down 2.0%

UGP opened at $6.43 on Friday. The company has a market capitalization of $7.17 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The firm has a 50-day simple moving average of $5.39 and a two-hundred day simple moving average of $5.26. The company has a quick ratio of 1.30, a current ratio of 1.67 and a debt-to-equity ratio of 0.89. Ultrapar Participacoes S.A. has a 52 week low of $2.92 and a 52 week high of $6.56.

Ultrapar Participacoes Profile

Ultrapar Participações SA is a Brazilian diversified holding company operating in the downstream energy and chemical sectors. Its Ipiranga unit runs one of Brazil’s largest networks of fuel stations, supplying gasoline, ethanol, diesel and convenience-store products to retail and wholesale customers. Through Ultragaz, the company is a leading distributor of liquefied petroleum gas (LPG), offering cylinder and bulk gas solutions for residential, commercial and industrial use across urban and rural regions.

In the specialty chemicals arena, Ultrapar controls Oxiteno, which produces surfactants and specialty chemical formulations for industries such as personal care, oil and gas, agrochemicals and coatings.