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

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

The stock’s 50-day moving average price is $48.43 and its 200 day moving average price is $46.75. The firm has a market cap of $5.74 billion and a PE ratio of 8.85.

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

A hedge fund recently bought a new stake in Sinopec Shanghai Petrochemical stock. First Trust Advisors LP bought a new position in shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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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