Redmond Asset Management LLC Decreases Holdings in Ecolab Inc. (NYSE:ECL)

Redmond Asset Management LLC trimmed its position in shares of Ecolab Inc. (NYSE:ECL) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,567 shares of the basic materials company’s stock after selling 582 shares during the period. Ecolab comprises 1.0% of Redmond Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Redmond Asset Management LLC’s holdings in Ecolab were worth $2,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new position in Ecolab in the 2nd quarter worth approximately $159,000. Ardevora Asset Management LLP increased its stake in Ecolab by 0.3% in the 2nd quarter. Ardevora Asset Management LLP now owns 218,300 shares of the basic materials company’s stock worth $43,101,000 after purchasing an additional 600 shares during the period. Sandy Spring Bank increased its stake in Ecolab by 2.2% in the 2nd quarter. Sandy Spring Bank now owns 3,624 shares of the basic materials company’s stock worth $715,000 after purchasing an additional 79 shares during the period. Chesapeake Wealth Management purchased a new position in Ecolab in the 2nd quarter worth approximately $882,000. Finally, Stanley Laman Group Ltd. increased its stake in Ecolab by 6.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 6,414 shares of the basic materials company’s stock worth $1,266,000 after purchasing an additional 401 shares during the period. 75.32% of the stock is currently owned by institutional investors.

Shares of NYSE ECL traded up $1.85 during mid-day trading on Thursday, hitting $203.49. 15,007 shares of the stock traded hands, compared to its average volume of 1,015,294. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.78 and a current ratio of 1.18. Ecolab Inc. has a 52 week low of $135.77 and a 52 week high of $209.24. The company has a market capitalization of $58.50 billion, a P/E ratio of 38.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.84. The stock has a fifty day moving average of $199.06.



Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.01. Ecolab had a return on equity of 19.81% and a net margin of 10.12%. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period in the previous year, the company posted $1.27 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts forecast that Ecolab Inc. will post 5.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a dividend of $0.46 per share. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 0.90%. Ecolab’s dividend payout ratio is presently 35.05%.

In related news, Director Victoria Reich sold 1,500 shares of Ecolab stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $199.25, for a total transaction of $298,875.00. Following the sale, the director now directly owns 20,987 shares in the company, valued at $4,181,659.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth A. Simermeyer sold 3,875 shares of Ecolab stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $183.90, for a total value of $712,612.50. Following the sale, the executive vice president now owns 10,421 shares in the company, valued at $1,916,421.90. The disclosure for this sale can be found here. Insiders have sold 95,650 shares of company stock worth $18,898,540 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.

ECL has been the topic of a number of analyst reports. UBS Group set a $202.00 price target on Ecolab and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Credit Suisse Group set a $181.00 price target on Ecolab and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $200.00 target price (up from $178.00) on shares of Ecolab in a research note on Wednesday, May 1st. BMO Capital Markets boosted their target price on Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research note on Monday, August 5th. Finally, Canaccord Genuity boosted their target price on Ecolab from $198.00 to $222.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $192.00.

Ecolab Company Profile

Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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