Short Interest in Ultrapar Participacoes S.A. (NYSE:UGP) Increases By 124.1%

Ultrapar Participacoes S.A. (NYSE:UGP) saw a large increase in short interest in July. As of July 31st, there was short interest totaling 2,460,606 shares, an increase of 124.1% from the July 15th total of 1,097,793 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 3,876,192 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Ultrapar Participacoes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in Ultrapar Participacoes in the fourth quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its stake in Ultrapar Participacoes by 45.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,383 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 1,982 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Ultrapar Participacoes during the fourth quarter worth approximately $44,000. GeoWealth Management LLC acquired a new stake in Ultrapar Participacoes during the fourth quarter worth approximately $44,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Ultrapar Participacoes during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 3.58% of the company’s stock.

Ultrapar Participacoes Stock Up 0.1%

Shares of UGP traded up $0.01 during midday trading on Friday, reaching $6.17. The stock had a trading volume of 3,371,598 shares, compared to its average volume of 3,367,482. Ultrapar Participacoes has a 1-year low of $3.11 and a 1-year high of $6.59. The company’s fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $5.48. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.37 and a beta of 0.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.67 and a quick ratio of 1.30.

Ultrapar Participacoes Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, September 14th. Stockholders of record on Wednesday, August 26th will be given a dividend of $0.1932 per share. This represents a dividend yield of 634.0%. The ex-dividend date of this dividend is Wednesday, August 26th. Ultrapar Participacoes’s dividend payout ratio is currently 34.43%.

Analysts Set New Price Targets

UGP has been the subject of several research reports. Bank of America upgraded shares of Ultrapar Participacoes from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $6.80 to $7.40 in a research note on Wednesday, July 8th. UBS Group boosted their target price on Ultrapar Participacoes from $7.00 to $7.20 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded Ultrapar Participacoes from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ultrapar Participacoes in a research report on Monday, June 8th. One research analyst has 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 MarketBeat, Ultrapar Participacoes presently has an average rating of “Moderate Buy” and an average target price of $6.32.

Ultrapar Participacoes Company 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.