Armstrong Henry H Associates Inc. purchased a new position in Ecolab Inc. (NYSE:ECL) during the second quarter, Holdings Channel reports. The firm purchased 4,188 shares of the company’s stock, valued at approximately $497,000.
Several other hedge funds also recently made changes to their positions in the company. Washington Trust Bank raised its stake in shares of Ecolab by 29.2% in the second quarter. Washington Trust Bank now owns 1,592 shares of the company’s stock worth $189,000 after buying an additional 360 shares in the last quarter. Eagle Ridge Investment Management acquired a new stake in shares of Ecolab during the second quarter valued at about $226,000. Private Bank & Trust Co. raised its stake in shares of Ecolab by 10.6% in the second quarter. Private Bank & Trust Co. now owns 2,094 shares of the company’s stock valued at $248,000 after buying an additional 200 shares during the period. Peddock Capital Advisors LLC raised its stake in shares of Ecolab by 2.3% in the second quarter. Peddock Capital Advisors LLC now owns 2,149 shares of the company’s stock valued at $255,000 after buying an additional 48 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Ecolab by 16.9% in the first quarter. Stratos Wealth Partners LTD. now owns 2,153 shares of the company’s stock valued at $240,000 after buying an additional 311 shares during the period. Hedge funds and other institutional investors own 74.79% of the company’s stock.
Ecolab Inc. (NYSE:ECL) traded down 0.09% during midday trading on Monday, reaching $118.93. 806,028 shares of the company were exchanged. The firm’s 50 day moving average price is $121.39 and its 200-day moving average price is $117.28. The stock has a market capitalization of $34.68 billion, a P/E ratio of 37.29 and a beta of 0.90. Ecolab Inc. has a 52 week low of $98.62 and a 52 week high of $124.60.
Ecolab (NYSE:ECL) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.08. The company had revenue of $3.32 billion for 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%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 EPS. Equities analysts forecast that Ecolab Inc. will post $4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, September 20th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, September 16th. Ecolab’s dividend payout ratio is currently 43.89%.
Several analysts recently issued reports on ECL shares. Jefferies Group restated a “hold” rating on shares of Ecolab in a research report on Wednesday, July 6th. Nomura cut their target price on shares of Ecolab from $96.00 to $94.00 and set a “reduce” rating for the company in a research report on Wednesday, June 29th. Barclays PLC restated an “overweight” rating and set a $120.00 target price on shares of Ecolab in a research report on Friday, July 1st. Macquarie started coverage on shares of Ecolab in a research report on Thursday, August 25th. They set an “outperform” rating and a $143.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Ecolab from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $126.74.
In related news, Chairman Douglas M. Baker, Jr. sold 25,800 shares of the company’s stock in a transaction on 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 sale, the chairman now owns 456,349 shares in the company, valued at approximately $55,861,681.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christophe Beck sold 5,789 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $122.70, for a total transaction of $710,310.30. Following the completion of the sale, the executive vice president now owns 32,475 shares of the company’s stock, valued at approximately $3,984,682.50. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate 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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