Ultrapar Participacoes SA (NYSE:UGP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $24.50 and last traded at $24.48, with a volume of 836,926 shares. The stock had previously closed at $24.37.

Separately, Zacks Investment Research upgraded Ultrapar Participacoes SA from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Friday, May 20th.

The stock has a market capitalization of $13.30 billion and a P/E ratio of 27.20. The company has a 50 day moving average of $22.32 and a 200-day moving average of $19.65.

The business also recently declared a dividend, which will be paid on Tuesday, September 6th. Investors of record on Monday, August 22nd will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend 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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