Sinopec Shanghai Petrochemical Co. (NYSE:SHI) shares reached a new 52-week high on Thursday . The stock traded as high as $53.48 and last traded at $53.19, with a volume of 13,052 shares traded. The stock had previously closed at $50.69.

Separately, Zacks Investment Research downgraded shares of Sinopec Shanghai Petrochemical from a “buy” rating to a “hold” rating in a research report on Thursday, June 9th.

The company has a market capitalization of $5.73 billion and a price-to-earnings ratio of 8.84. The company has a 50 day moving average of $47.98 and a 200-day moving average of $46.60.

The business also recently declared an annual dividend, which was paid on Monday, July 25th. Investors of record on Monday, June 27th were given a dividend of $1.317 per share. The ex-dividend date of this dividend was Thursday, June 23rd. This is an increase from Sinopec Shanghai Petrochemical’s previous annual dividend of $0.80.

An institutional investor recently bought a new position in Sinopec Shanghai Petrochemical stock. First Trust Advisors LP purchased a new stake in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,663 shares of the company’s stock, valued at approximately $1,649,000.

Sinopec Shanghai Petrochemical Company Limited is a petrochemical Company. The Company is engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company has five segments: synthetic fibres, resins and plastics, intermediate petrochemicals, petroleum products and trading of petrochemical products.

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