SlateStone Wealth LLC Takes $308,000 Position in Ecolab Inc. (NYSE:ECL)

SlateStone Wealth LLC bought a new stake in shares of Ecolab Inc. (NYSE:ECL) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,555 shares of the basic materials company’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Management Corp VA lifted its position in shares of Ecolab by 3.9% during the second quarter. Capital Management Corp VA now owns 1,335 shares of the basic materials company’s stock valued at $264,000 after buying an additional 50 shares during the last quarter. Gamble Jones Investment Counsel lifted its position in shares of Ecolab by 0.6% during the second quarter. Gamble Jones Investment Counsel now owns 8,072 shares of the basic materials company’s stock valued at $1,594,000 after buying an additional 50 shares during the last quarter. Johnson Financial Group Inc. lifted its position in shares of Ecolab by 2.6% during the second quarter. Johnson Financial Group Inc. now owns 2,195 shares of the basic materials company’s stock valued at $433,000 after buying an additional 56 shares during the last quarter. NuWave Investment Management LLC lifted its position in shares of Ecolab by 4.9% during the second quarter. NuWave Investment Management LLC now owns 1,232 shares of the basic materials company’s stock valued at $243,000 after buying an additional 58 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC lifted its position in shares of Ecolab by 4.9% during the second quarter. Pillar Pacific Capital Management LLC now owns 1,271 shares of the basic materials company’s stock valued at $251,000 after buying an additional 59 shares during the last quarter. 75.34% of the stock is owned by hedge funds and other institutional investors.

Shares of ECL traded down $0.96 during mid-day trading on Tuesday, hitting $187.88. 31,757 shares of the company traded hands, compared to its average volume of 1,003,917. Ecolab Inc. has a 1-year low of $135.77 and a 1-year high of $209.87. The company has a quick ratio of 0.84, a current ratio of 1.24 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $54.88 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81. The business has a 50 day moving average of $193.34 and a 200 day moving average of $194.45.

Ecolab (NYSE:ECL) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $1.71 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.71. Ecolab had a net margin of 10.27% and a return on equity of 20.08%. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company earned $1.53 EPS. Ecolab’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts expect that Ecolab Inc. will post 5.86 EPS for the current fiscal year.

In other Ecolab news, EVP Darrell R. Brown sold 12,678 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $198.09, for a total value of $2,511,385.02. Following the sale, the executive vice president now owns 21,061 shares in the company, valued at approximately $4,171,973.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Darrell R. Brown sold 2,280 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $207.95, for a total value of $474,126.00. Following the completion of the sale, the executive vice president now owns 8,061 shares in the company, valued at approximately $1,676,284.95. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Several analysts have commented on ECL shares. Citigroup decreased their price target on shares of Ecolab from $206.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on shares of Ecolab from $140.00 to $205.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Nomura increased their price target 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. Canaccord Genuity increased their price target on shares of Ecolab from $198.00 to $222.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Credit Suisse Group set a $181.00 price objective on shares of Ecolab and gave the company a “neutral” rating in a report on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $200.50.

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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