Cubist Systematic Strategies LLC Buys 485,299 Shares of Ultrapar Participações S.A. (NYSE:UGP)

Cubist Systematic Strategies LLC lifted its position in Ultrapar Participações S.A. (NYSE:UGP) by 194.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 734,949 shares of the oil and gas company’s stock after purchasing an additional 485,299 shares during the period. Cubist Systematic Strategies LLC’s holdings in Ultrapar Participações were worth $1,933,000 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 the company. Bank of America Corp DE increased its stake in Ultrapar Participações by 33.5% in the 4th quarter. Bank of America Corp DE now owns 986,220 shares of the oil and gas company’s stock worth $2,594,000 after buying an additional 247,755 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Ultrapar Participações by 588.7% during the 4th quarter. BNP Paribas Financial Markets now owns 467,712 shares of the oil and gas company’s stock valued at $1,230,000 after purchasing an additional 399,798 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Ultrapar Participações during the 4th quarter valued at approximately $29,000. Jane Street Group LLC raised its stake in Ultrapar Participações by 200.9% during the 4th quarter. Jane Street Group LLC now owns 146,591 shares of the oil and gas company’s stock valued at $386,000 after purchasing an additional 97,879 shares during the period. Finally, Northern Trust Corp raised its stake in Ultrapar Participações by 41.2% during the 4th quarter. Northern Trust Corp now owns 109,267 shares of the oil and gas company’s stock valued at $287,000 after purchasing an additional 31,880 shares during the period. 3.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com raised Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday. Hsbc Global Res raised Ultrapar Participações from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group upgraded shares of Ultrapar Participações from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $4.10 to $3.20 in a research note on Friday, January 31st. Finally, HSBC upgraded shares of Ultrapar Participações from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ultrapar Participações currently has a consensus rating of “Buy” and a consensus target price of $3.20.

Ultrapar Participações Stock Up 1.0%

NYSE UGP opened at $2.91 on Monday. 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 capitalization of $3.25 billion, a P/E ratio of 6.33, a P/E/G ratio of 2.39 and a beta of 1.13. Ultrapar Participações S.A. has a one year low of $2.53 and a one year high of $4.96. The stock has a 50 day moving average price of $3.00 and a 200-day moving average price of $2.98.

Ultrapar Participações Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.0774 per share. The ex-dividend date was Monday, March 10th. This represents a dividend yield of 3.8%. Ultrapar Participações’s dividend payout ratio is currently 36.11%.

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.