Mattern Capital Management LLC Sells 8,477 Shares of United Parcel Service, Inc. (NYSE:UPS)

Mattern Capital Management LLC reduced its stake in United Parcel Service, Inc. (NYSE:UPS) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,507 shares of the transportation company’s stock after selling 8,477 shares during the quarter. Mattern Capital Management LLC’s holdings in United Parcel Service were worth $3,887,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of UPS. TruNorth Capital Management LLC purchased a new stake in United Parcel Service during the 2nd quarter valued at approximately $28,000. Riverview Trust Co bought a new position in shares of United Parcel Service during the second quarter worth $32,000. Centerpoint Advisors LLC grew its stake in United Parcel Service by 291.7% during the second quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. Tortoise Investment Management LLC grew its stake in United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 155 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in United Parcel Service by 408.2% during the third quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. 60.26% of the stock is owned by institutional investors.

United Parcel Service Price Performance

United Parcel Service stock opened at $137.43 on Friday. United Parcel Service, Inc. has a 12-month low of $123.12 and a 12-month high of $163.82. The firm has a 50-day moving average price of $130.89 and a 200-day moving average price of $135.98. The firm has a market capitalization of $117.72 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. 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 announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.11. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.10 billion. During the same quarter last year, the business posted $1.57 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that United Parcel Service, Inc. will post 7.44 EPS for the current year.

United Parcel Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.74%. United Parcel Service’s payout ratio is 106.36%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on UPS shares. JPMorgan Chase & Co. cut their target price on shares of United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a research note on Friday. Evercore ISI raised their target price on shares of United Parcel Service from $138.00 to $141.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Stephens dropped their price objective on shares of United Parcel Service from $168.00 to $140.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird dropped their price objective on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on shares of United Parcel Service from $134.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $151.43.

United Parcel Service Company 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.