Chemical Bank Continues to Hold Stake in Ecolab Inc. (ECL)
Chemical Bank maintained its stake in shares of Ecolab Inc. (NYSE:ECL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,883 shares of the basic materials company’s stock at the close of the second quarter. Chemical Bank’s holdings in Ecolab were worth $516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in Ecolab by 269.4% during the first quarter. BNP Paribas Arbitrage SA now owns 191,189 shares of the basic materials company’s stock valued at $23,964,000 after purchasing an additional 139,434 shares during the last quarter. Alps Advisors Inc. boosted its position in Ecolab by 21.3% during the second quarter. Alps Advisors Inc. now owns 2,134 shares of the basic materials company’s stock valued at $283,000 after purchasing an additional 375 shares during the last quarter. State Street Corp boosted its position in Ecolab by 0.3% during the first quarter. State Street Corp now owns 11,935,943 shares of the basic materials company’s stock valued at $1,496,059,000 after purchasing an additional 31,277 shares during the last quarter. YHB Investment Advisors Inc. boosted its position in Ecolab by 0.6% during the first quarter. YHB Investment Advisors Inc. now owns 112,954 shares of the basic materials company’s stock valued at $14,581,000 after purchasing an additional 649 shares during the last quarter. Finally, Bell Bank boosted its position in Ecolab by 6.7% during the first quarter. Bell Bank now owns 4,706 shares of the basic materials company’s stock valued at $590,000 after purchasing an additional 297 shares during the last quarter. 75.54% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on ECL. UBS AG reissued a “buy” rating and set a $147.00 price target (up from $144.00) on shares of Ecolab in a research report on Tuesday, August 8th. BidaskClub cut Ecolab from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $130.00 price target on shares of Ecolab in a research report on Wednesday, August 16th. Royal Bank Of Canada increased their price target on Ecolab from $134.00 to $137.00 and gave the company an “outperform” rating in a research report on Tuesday, September 12th. Finally, Instinet restated a “neutral” rating and issued a $117.00 price objective (down previously from $120.00) on shares of Ecolab in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. Ecolab currently has a consensus rating of “Hold” and an average price target of $133.93.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average price of $132.57 per share, for a total transaction of $10,009,035.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas W. Handley sold 7,397 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $130.63, for a total value of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is owned by insiders.
Ecolab Inc. (NYSE ECL) opened at 131.05 on Friday. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 29.96 and a beta of 0.99. The stock’s 50 day moving average price is $131.31 and its 200-day moving average price is $129.38. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89.
Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Ecolab had a return on equity of 18.93% and a net margin of 9.66%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the business earned $1.08 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that Ecolab Inc. will post $4.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Tuesday, September 19th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.13%. Ecolab’s payout ratio is presently 33.79%.
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Ecolab Company Profile
Ecolab Inc provides water, hygiene and energy technologies and services. The Company’s cleaning and sanitizing programs and products, pest elimination services and equipment maintenance and repair services support customers in the foodservice, food and beverage processing, hospitality, healthcare, government and education, retail, textile care and commercial facilities management sectors in over 170 countries.
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