Corundum Group Inc. Lowers Position in United Parcel Service, Inc. (NYSE:UPS)

Corundum Group Inc. decreased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 18.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,524 shares of the transportation company’s stock after selling 1,725 shares during the period. Corundum Group Inc.’s holdings in United Parcel Service were worth $1,026,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UPS. Penn Davis Mcfarland Inc. purchased a new position in United Parcel Service during the third quarter valued at approximately $4,503,000. Brown Lisle Cummings Inc. boosted its position in United Parcel Service by 30.6% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 4,478 shares of the transportation company’s stock valued at $610,000 after acquiring an additional 1,050 shares in the last quarter. Godsey & Gibb Inc. increased its holdings in shares of United Parcel Service by 2.9% in the 3rd quarter. Godsey & Gibb Inc. now owns 138,508 shares of the transportation company’s stock valued at $18,884,000 after acquiring an additional 3,884 shares during the period. Calton & Associates Inc. raised its position in shares of United Parcel Service by 1,000.6% in the 3rd quarter. Calton & Associates Inc. now owns 37,233 shares of the transportation company’s stock worth $5,076,000 after acquiring an additional 33,850 shares in the last quarter. Finally, Cannon Financial Strategists Inc. lifted its stake in shares of United Parcel Service by 8.5% during the 3rd quarter. Cannon Financial Strategists Inc. now owns 2,625 shares of the transportation company’s stock worth $358,000 after purchasing an additional 206 shares during the last quarter. Institutional investors own 60.26% of the company’s stock.

United Parcel Service Stock Performance

NYSE UPS opened at $135.93 on Monday. The stock has a market capitalization of $116.43 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.00 and a beta of 0.99. United Parcel Service, Inc. has a twelve month low of $123.12 and a twelve month high of $163.82. The stock has a 50-day moving average of $130.21 and a 200 day moving average of $136.46. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18.

United Parcel Service (NYSE:UPS) last issued its quarterly earnings results on Tuesday, July 23rd. The transportation company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.20). The company had revenue of $21.82 billion during the quarter, compared to analysts’ expectations of $22.17 billion. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. United Parcel Service’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.54 EPS. Sell-side analysts anticipate that United Parcel Service, Inc. will post 7.44 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.80%. United Parcel Service’s dividend payout ratio (DPR) is currently 106.36%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Robert W. Baird reduced their target price on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Citigroup began coverage on United Parcel Service in a report on Wednesday, October 9th. They set a “buy” rating and a $162.00 price objective for the company. Bank of America decreased their price target on United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. TD Cowen assumed coverage on shares of United Parcel Service in a research report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 price objective for the company. Finally, Evercore ISI cut their price target on shares of United Parcel Service from $157.00 to $145.00 and set an “in-line” rating on the stock in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, United Parcel Service has a consensus rating of “Moderate Buy” and an average price target of $151.24.

Insider Buying and Selling at United Parcel Service

In other news, Director William R. Johnson acquired 5,000 shares of United Parcel Service stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $128.61 per share, with a total value of $643,050.00. Following the purchase, the director now owns 5,160 shares in the company, valued at $663,627.60. This trade represents a 3,100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

United Parcel Service Profile

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.