Ultrapar Participacoes SA (NYSE:UGP) shares traded down 2.5% during mid-day trading on Thursday . The company traded as low as $22.12 and last traded at $22.35, with a volume of 532,436 shares trading hands. The stock had previously closed at $22.92.

Separately, Zacks Investment Research cut Ultrapar Participacoes SA from a “buy” rating to a “hold” rating in a research note on Wednesday, May 18th.

The stock’s 50-day moving average price is $22.88 and its 200 day moving average price is $20.31. The company has a market cap of $12.20 billion and a PE ratio of 25.69.

The firm also recently disclosed a dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be given a dividend of $0.255 per share. The ex-dividend date is Thursday, August 18th.

Ultrapar Participacoes SA is a Brazil-based holding company that operates in four segments: fuel distribution through Ipiranga; chemicals through Oxiteno; Liquefied Petroleum Gas (LPG) distribution through Ultragaz; and logistics for liquid bulk through Ultracargo. Ipiranga is a fuel distributor in Brazil, with a network of service stations, providing diesel, gasoline, ethanol, natural gas for vehicles, fuel oil and kerosene, besides lubricants.

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