Shelter Mutual Insurance Co decreased its position in shares of Ecolab Inc. (NYSE:ECL) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,834 shares of the basic materials company’s stock after selling 2,280 shares during the period. Shelter Mutual Insurance Co’s holdings in Ecolab were worth $4,706,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ECL. TRUE Private Wealth Advisors acquired a new position in shares of Ecolab during the second quarter valued at about $159,000. Ardevora Asset Management LLP raised its position in shares of Ecolab by 0.3% during the second quarter. Ardevora Asset Management LLP now owns 218,300 shares of the basic materials company’s stock valued at $43,101,000 after buying an additional 600 shares during the last quarter. Sandy Spring Bank raised its position in shares of Ecolab by 2.2% during the second quarter. Sandy Spring Bank now owns 3,624 shares of the basic materials company’s stock valued at $715,000 after buying an additional 79 shares during the last quarter. Chesapeake Wealth Management acquired a new position in shares of Ecolab during the second quarter valued at about $882,000. Finally, Stanley Laman Group Ltd. raised its position in shares of Ecolab by 6.7% during the second quarter. Stanley Laman Group Ltd. now owns 6,414 shares of the basic materials company’s stock valued at $1,266,000 after buying an additional 401 shares during the last quarter. 75.32% of the stock is owned by hedge funds and other institutional investors.
Ecolab stock traded up $1.52 during trading hours on Thursday, hitting $203.16. 15,574 shares of the stock were exchanged, compared to its average volume of 1,015,294. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $58.50 billion, a PE ratio of 38.69, a P/E/G ratio of 2.78 and a beta of 0.84. Ecolab Inc. has a 12 month low of $135.77 and a 12 month high of $209.24. The stock has a 50-day moving average of $199.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, September 16th. Ecolab’s dividend payout ratio is 35.05%.
In other news, Director Victoria Reich sold 1,500 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $199.25, for a total transaction of $298,875.00. Following the completion of the sale, the director now owns 20,987 shares of the company’s stock, valued at $4,181,659.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex N. Blanco sold 51,400 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $203.07, for a total transaction of $10,437,798.00. Following the sale, the executive vice president now directly owns 59,425 shares of the company’s stock, valued at approximately $12,067,434.75. The disclosure for this sale can be found here. Insiders have sold 95,650 shares of company stock valued at $18,898,540 in the last three months. 1.52% of the stock is owned by insiders.
ECL has been the subject of a number of research analyst reports. UBS Group set a $202.00 price objective on shares of Ecolab and gave the company a “hold” rating in a research report on Wednesday, July 31st. Nomura upped their price objective on shares of Ecolab from $208.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets upped their price objective on shares of Ecolab from $180.00 to $208.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Argus upped their target price on shares of Ecolab from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley upped their target price on shares of Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a research note on Monday. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Ecolab presently has an average rating of “Hold” and a consensus target price of $192.00.
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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