Sumitomo Mitsui Asset Management Company LTD Has $4.92 Million Position in Ecolab Inc. (ECL)

Sumitomo Mitsui Asset Management Company LTD lessened its stake in shares of Ecolab Inc. (NYSE:ECL) by 5.9% during the 1st quarter, HoldingsChannel reports. The fund owned 27,855 shares of the basic materials company’s stock after selling 1,754 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Ecolab were worth $4,917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Ecolab by 4.1% in the fourth quarter. BlackRock Inc. now owns 16,641,721 shares of the basic materials company’s stock valued at $2,452,158,000 after buying an additional 656,297 shares during the period. Bank of America Corp DE raised its stake in Ecolab by 0.9% in the fourth quarter. Bank of America Corp DE now owns 4,447,561 shares of the basic materials company’s stock valued at $655,348,000 after buying an additional 39,640 shares during the period. Bank of New York Mellon Corp raised its stake in Ecolab by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 4,151,160 shares of the basic materials company’s stock valued at $611,674,000 after buying an additional 304,832 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Ecolab by 14,455.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,084,837 shares of the basic materials company’s stock valued at $28,000 after buying an additional 4,056,773 shares during the period. Finally, Northern Trust Corp raised its stake in Ecolab by 4.4% in the fourth quarter. Northern Trust Corp now owns 3,177,693 shares of the basic materials company’s stock valued at $468,233,000 after buying an additional 135,035 shares during the period. Institutional investors and hedge funds own 76.54% of the company’s stock.

Several research firms have issued reports on ECL. BMO Capital Markets upped their price objective on Ecolab from $169.00 to $180.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Ecolab from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Nomura dropped their price objective on Ecolab from $210.00 to $208.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. UBS Group upped their price objective on Ecolab from $186.00 to $191.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Argus upped their price objective on Ecolab from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $180.93.

In related news, CEO Douglas M. Baker, Jr. sold 157,125 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $170.14, for a total transaction of $26,733,247.50. Following the sale, the chief executive officer now owns 536,060 shares of the company’s stock, valued at $91,205,248.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Roberto Inchaustegui sold 37,200 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $169.08, for a total value of $6,289,776.00. Following the sale, the executive vice president now directly owns 41,232 shares in the company, valued at approximately $6,971,506.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,758 shares of company stock worth $57,738,346. 1.52% of the stock is owned by corporate insiders.

Shares of NYSE ECL traded up $0.68 during trading hours on Friday, reaching $182.86. 7,073 shares of the stock were exchanged, compared to its average volume of 931,354. The firm has a market cap of $51.84 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.73. Ecolab Inc. has a 52 week low of $135.77 and a 52 week high of $186.34.

Ecolab (NYSE:ECL) last announced its earnings results on Tuesday, April 30th. The basic materials company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.01. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.57 billion. Ecolab had a return on equity of 19.50% and a net margin of 10.06%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Analysts forecast that Ecolab Inc. will post 5.9 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, June 18th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.01%. Ecolab’s dividend payout ratio (DPR) is currently 35.05%.

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Ecolab Company Profile

Ecolab Inc provides water, hygiene, and energy technologies and services worldwide. The company operates through Global Industrial, Global Institutional, Global Energy, and Other segments. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions primarily to industrial customers within the manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, pulp and paper, pharmaceutical, and commercial laundry.

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Institutional Ownership by Quarter for Ecolab (NYSE:ECL)

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