North Star Asset Management Inc. Has $6,221,000 Stake in Ecolab Inc. (ECL)
North Star Asset Management Inc. held its position in Ecolab Inc. (NYSE:ECL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,779 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Ecolab were worth $6,221,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gluskin Sheff & Assoc Inc. boosted its position in Ecolab by 11.2% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 36,273 shares of the company’s stock worth $4,302,000 after buying an additional 3,640 shares during the period. Trillium Asset Management LLC boosted its position in Ecolab by 3.6% in the second quarter. Trillium Asset Management LLC now owns 89,621 shares of the company’s stock worth $10,629,000 after buying an additional 3,136 shares during the period. Savant Capital LLC purchased a new position in Ecolab during the second quarter worth $215,000. Compass Capital Management Inc. boosted its position in Ecolab by 2.3% in the second quarter. Compass Capital Management Inc. now owns 175,873 shares of the company’s stock worth $20,859,000 after buying an additional 3,991 shares during the period. Finally, Papp L Roy & Associates boosted its position in Ecolab by 6.6% in the second quarter. Papp L Roy & Associates now owns 28,111 shares of the company’s stock worth $3,334,000 after buying an additional 1,750 shares during the period. Institutional investors and hedge funds own 74.80% of the company’s stock.
Shares of Ecolab Inc. (NYSE:ECL) traded down 1.26% during trading on Friday, hitting $119.02. 530,777 shares of the company traded hands. Ecolab Inc. has a 52-week low of $98.62 and a 52-week high of $124.60. The company has a 50-day moving average of $120.85 and a 200-day moving average of $118.25. The stock has a market capitalization of $34.71 billion, a PE ratio of 37.32 and a beta of 0.87.
Ecolab (NYSE:ECL) last released its earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, meeting the consensus estimate of $1.08. The company earned $3.32 billion during the quarter, compared to the consensus estimate of $3.33 billion. Ecolab had a return on equity of 19.24% and a net margin of 7.20%. Ecolab’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 EPS. Equities analysts expect that Ecolab Inc. will post $4.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, September 20th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.16%. The ex-dividend date is Friday, September 16th. Ecolab’s dividend payout ratio is currently 43.89%.
A number of research firms have weighed in on ECL. Zacks Investment Research upgraded shares of Ecolab from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research report on Tuesday. Macquarie started coverage on shares of Ecolab in a report on Thursday, August 25th. They issued an “outperform” rating and a $143.00 price target on the stock. Nomura upped their price target on shares of Ecolab from $94.00 to $98.00 and gave the stock a “reduce” rating in a report on Monday, August 22nd. Credit Suisse Group AG restated a “hold” rating and issued a $120.00 price target on shares of Ecolab in a report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. upped their price target on shares of Ecolab from $120.00 to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $127.25.
In other Ecolab news, EVP Michael A. Hickey sold 17,761 shares of Ecolab stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $123.90, for a total value of $2,200,587.90. Following the completion of the transaction, the executive vice president now directly owns 61,342 shares of the company’s stock, valued at approximately $7,600,273.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Douglas M. Baker, Jr. sold 25,800 shares of Ecolab stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $122.41, for a total value of $3,158,178.00. Following the completion of the transaction, the chairman now directly owns 456,349 shares of the company’s stock, valued at $55,861,681.09. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s segments include Global Industrial, Global Institutional, Global Energy, Other and Corporate. The Global Industrial segment consists of the Water, Food and Beverage, Paper and Textile Care operating units. The Global Institutional segment consists of the Institutional, Specialty and Healthcare operating units.
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