Mattern Capital Management LLC Reduces Holdings in United Parcel Service, Inc. $UPS

Mattern Capital Management LLC cut its position in United Parcel Service, Inc. (NYSE:UPS) by 68.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,116 shares of the transportation company’s stock after selling 4,580 shares during the quarter. Mattern Capital Management LLC’s holdings in United Parcel Service were worth $214,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UPS. Goldman Sachs Group Inc. grew its stake in shares of United Parcel Service by 124.0% during the first quarter. Goldman Sachs Group Inc. now owns 9,011,107 shares of the transportation company’s stock valued at $991,132,000 after acquiring an additional 4,988,044 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in United Parcel Service by 1,056.6% in the first quarter. Pacer Advisors Inc. now owns 4,336,175 shares of the transportation company’s stock valued at $476,936,000 after purchasing an additional 3,961,255 shares during the last quarter. Nuveen LLC acquired a new stake in United Parcel Service during the 1st quarter valued at approximately $201,358,000. Charles Schwab Investment Management Inc. increased its holdings in United Parcel Service by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,045,472 shares of the transportation company’s stock worth $2,754,751,000 after purchasing an additional 1,780,807 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in United Parcel Service by 443.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,549,962 shares of the transportation company’s stock worth $156,453,000 after purchasing an additional 1,264,842 shares during the last quarter. 60.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UPS has been the subject of a number of recent analyst reports. Wolfe Research decreased their price target on shares of United Parcel Service from $113.00 to $112.00 and set an “outperform” rating for the company in a research report on Tuesday, July 1st. Vertical Research reissued a “hold” rating and set a $103.00 price objective on shares of United Parcel Service in a report on Wednesday, July 30th. Evercore ISI dropped their target price on shares of United Parcel Service from $103.00 to $97.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. Wells Fargo & Company reduced their price target on shares of United Parcel Service from $98.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded United Parcel Service from a “hold” rating to a “sell” rating in a research note on Saturday, September 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, fifteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.16.

United Parcel Service Trading Up 1.4%

NYSE UPS opened at $86.79 on Friday. The firm has a market capitalization of $73.56 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.10. United Parcel Service, Inc. has a one year low of $82.00 and a one year high of $145.01. The company has a 50-day simple moving average of $86.20 and a 200-day simple moving average of $95.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.32 and a current ratio of 1.32.

United Parcel Service (NYSE:UPS) last issued its earnings results on Tuesday, July 29th. The transportation company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.01). The business had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $20.90 billion. United Parcel Service had a return on equity of 39.61% and a net margin of 6.34%.The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.79 EPS. On average, equities analysts forecast that United Parcel Service, Inc. will post 7.95 earnings per share for the current year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Monday, August 18th were given a $1.64 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $6.56 annualized dividend and a yield of 7.6%. United Parcel Service’s dividend payout ratio (DPR) is currently 97.62%.

Insider Buying and Selling at United Parcel Service

In related news, CEO Carol B. Tome bought 11,682 shares of the business’s stock in a transaction on Friday, August 1st. The shares were bought at an average cost of $85.67 per share, for a total transaction of $1,000,796.94. Following the completion of the purchase, the chief executive officer owned 24,718 shares of the company’s stock, valued at $2,117,591.06. This represents a 89.61% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christiana Smith Shi purchased 500 shares of the stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $88.17 per share, with a total value of $44,085.00. Following the transaction, the director directly owned 500 shares of the company’s stock, valued at approximately $44,085. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 17,182 shares of company stock worth $1,477,382. 0.13% of the stock is owned by insiders.

About United Parcel Service

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.