Allianz Asset Management GmbH trimmed its stake in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,324 shares of the oil and gas company’s stock after selling 1,750 shares during the quarter. Allianz Asset Management GmbH owned 0.06% of Sinopec Shanghai Petrochemical worth $3,609,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in SHI. BB&T Investment Services Inc. purchased a new stake in Sinopec Shanghai Petrochemical during the third quarter valued at $550,000. OxFORD Asset Management LLP increased its position in Sinopec Shanghai Petrochemical by 11.9% during the third quarter. OxFORD Asset Management LLP now owns 28,754 shares of the oil and gas company’s stock valued at $1,725,000 after acquiring an additional 3,061 shares during the last quarter. Wells Fargo & Company MN increased its position in Sinopec Shanghai Petrochemical by 4.7% during the third quarter. Wells Fargo & Company MN now owns 162,784 shares of the oil and gas company’s stock valued at $9,738,000 after acquiring an additional 7,323 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Sinopec Shanghai Petrochemical in the third quarter worth about $112,000. Finally, Yorktown Management & Research Co Inc purchased a new stake in Sinopec Shanghai Petrochemical in the third quarter worth about $239,000. 1.34% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded Sinopec Shanghai Petrochemical from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a strong buy rating to the company. Sinopec Shanghai Petrochemical has an average rating of “Buy”.
Shares of Sinopec Shanghai Petrochemical Co. (SHI) traded up $1.24 during trading on Friday, reaching $61.32. The company had a trading volume of 24,762 shares, compared to its average volume of 20,844. Sinopec Shanghai Petrochemical Co. has a 52 week low of $50.67 and a 52 week high of $64.80. The company has a market capitalization of $10,020.00, a price-to-earnings ratio of 7.94 and a beta of 0.56.
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Sinopec Shanghai Petrochemical Company Profile
Sinopec Shanghai Petrochemical Company Limited (Shanghai Petrochemical) is a petrochemical company. The Company and its subsidiaries are principally engaged in processing crude oil into synthetic fibers, resins and plastics, intermediate petrochemicals and petroleum products. The Company operates in five operating segments.
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