PNC Financial Services Group Inc. increased its position in Sasol Ltd. (NYSE:SSL) by 12.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,531 shares of the company’s stock after buying an additional 705 shares during the period. PNC Financial Services Group Inc. owned 0.23% of Sasol worth $177,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd bought a new stake in Sasol during the first quarter worth $1,692,944,000. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Sasol during the second quarter worth approximately $3,908,000. Brown Capital Management LLC increased its position in Sasol by 7.4% in the second quarter. Brown Capital Management LLC now owns 521,853 shares of the company’s stock worth $14,153,000 after buying an additional 36,031 shares in the last quarter. Bank of Montreal Can acquired a new position in Sasol during the second quarter worth approximately $886,000. Finally, Goldman Sachs Group Inc. increased its position in Sasol by 199.9% in the first quarter. Goldman Sachs Group Inc. now owns 37,577 shares of the company’s stock worth $1,110,000 after buying an additional 25,049 shares in the last quarter. 4.53% of the stock is owned by institutional investors and hedge funds.
Shares of Sasol Ltd. (NYSE:SSL) traded up 1.33% on Friday, hitting $28.18. The stock had a trading volume of 270,061 shares. The company has a market cap of $18.19 billion, a PE ratio of 18.13 and a beta of 1.06. The stock’s 50-day moving average price is $26.69 and its 200 day moving average price is $28.26. Sasol Ltd. has a 52 week low of $21.07 and a 52 week high of $34.73.
The business also recently disclosed a semiannual dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 30th will be issued a $0.521 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is a boost from Sasol’s previous semiannual dividend of $0.30. This represents a yield of 4.77%.
SSL has been the subject of a number of research reports. Morgan Stanley raised shares of Sasol from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 10th. Bank of America Corp. raised shares of Sasol from a “neutral” rating to a “buy” rating in a report on Tuesday, August 16th. Zacks Investment Research downgraded shares of Sasol from a “strong-buy” rating to a “sell” rating in a report on Thursday, August 18th. Citigroup Inc. raised shares of Sasol from a “neutral” rating to a “buy” rating in a report on Wednesday, September 14th. Finally, Credit Suisse Group AG initiated coverage on shares of Sasol in a report on Monday, September 26th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $35.00.
Sasol Company Profile
Sasol Limited (Sasol) is a holding company. The Company is an integrated energy and chemicals company that develops and commercializes technologies, builds and operates facilities to produce a range of product streams, including liquid fuels, high-value chemicals and low-carbon electricity. The Company operates through six segments: Mining, Exploration and Production International, Energy, Base Chemicals, Performance Chemicals and Other.
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