TT International Takes Position in Ecolab Inc. (ECL)
TT International purchased a new position in shares of Ecolab Inc. (NYSE:ECL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,200 shares of the basic materials company’s stock, valued at approximately $6,398,000. Ecolab makes up approximately 1.5% of TT International’s investment portfolio, making the stock its 22nd largest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Guardian Life Insurance Co. of America raised its holdings in Ecolab by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,012 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 7 shares in the last quarter. Rench Wealth Management Inc. raised its holdings in Ecolab by 0.3% during the first quarter. Rench Wealth Management Inc. now owns 2,995 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 9 shares in the last quarter. Green Square Capital LLC raised its holdings in Ecolab by 0.3% during the second quarter. Green Square Capital LLC now owns 2,836 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 9 shares in the last quarter. Ironwood Investment Management LLC raised its holdings in Ecolab by 0.7% during the second quarter. Ironwood Investment Management LLC now owns 2,708 shares of the basic materials company’s stock worth $359,000 after purchasing an additional 19 shares in the last quarter. Finally, JNBA Financial Advisors raised its holdings in Ecolab by 2.5% during the first quarter. JNBA Financial Advisors now owns 871 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 21 shares in the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.
In other Ecolab news, major shareholder William H. Gates III bought 75,500 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average cost of $132.57 per share, for a total transaction of $10,009,035.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas W. Handley sold 7,397 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $130.63, for a total transaction of $966,270.11. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.
Shares of Ecolab Inc. (ECL) traded up 0.17% on Friday, reaching $131.97. 769,087 shares of the company’s stock traded hands. The firm has a market capitalization of $38.19 billion, a price-to-earnings ratio of 30.17 and a beta of 0.98. Ecolab Inc. has a 52 week low of $110.65 and a 52 week high of $134.89. The company has a 50 day moving average price of $130.86 and a 200 day moving average price of $130.00.
Ecolab (NYSE:ECL) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Ecolab had a net margin of 9.66% and a return on equity of 18.93%. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm earned $1.08 EPS. Ecolab’s revenue was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Ecolab Inc. will post $4.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.12%. Ecolab’s dividend payout ratio (DPR) is 33.79%.
Several research analysts recently issued reports on the stock. Deutsche Bank AG increased their price target on shares of Ecolab from $132.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of Ecolab from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Credit Suisse Group set a $128.00 price target on shares of Ecolab and gave the stock a “hold” rating in a report on Thursday, August 3rd. Canaccord Genuity increased their price target on shares of Ecolab from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, Morgan Stanley assumed coverage on shares of Ecolab in a report on Tuesday, August 15th. They set an “equal weight” rating and a $140.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $133.77.
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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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