American Century Companies Inc. Boosts Stake in Sasol Ltd. $SSL

Key Points

• American Century Companies Inc. increased its stake in Sasol Ltd. by 7.6% during the first quarter, acquiring an additional 50,412 shares, bringing its total ownership to 709,675 shares.
• Sasol's stock has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, amid varying ratings from analysts.
• The company's market capitalization is approximately $4.37 billion, with a current stock price of $6.74, reflecting a significant increase from its 52-week low of $2.78.

American Century Companies Inc. lifted its stake in shares of Sasol Ltd. (NYSE:SSL - Free Report) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 709,675 shares of the oil and gas company's stock after acquiring an additional 50,412 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of Sasol worth $3,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Sasol by 24.9% in the 1st quarter. Blue Trust Inc. now owns 17,229 shares of the oil and gas company's stock valued at $73,000 after buying an additional 3,433 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Sasol by 22.8% during the first quarter. QRG Capital Management Inc. now owns 20,463 shares of the oil and gas company's stock worth $87,000 after buying an additional 3,803 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Sasol by 11.2% during the fourth quarter. Vident Advisory LLC now owns 40,690 shares of the oil and gas company's stock worth $186,000 after buying an additional 4,108 shares in the last quarter. US Bancorp DE grew its holdings in Sasol by 27.5% in the first quarter. US Bancorp DE now owns 20,604 shares of the oil and gas company's stock valued at $87,000 after purchasing an additional 4,442 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Sasol by 29.5% during the fourth quarter. Ameriprise Financial Inc. now owns 22,028 shares of the oil and gas company's stock valued at $100,000 after buying an additional 5,021 shares in the last quarter. 1.21% of the stock is currently owned by institutional investors and hedge funds.

Sasol Price Performance

SSL traded up $0.17 on Friday, reaching $7.08. The stock had a trading volume of 782,066 shares, compared to its average volume of 1,218,854. The firm has a 50-day moving average of $5.50 and a 200-day moving average of $4.62. Sasol Ltd. has a fifty-two week low of $2.78 and a fifty-two week high of $7.34. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 3.12, a price-to-earnings-growth ratio of 0.38 and a beta of 0.81. The company has a current ratio of 1.87, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Sasol from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

About Sasol

Sasol Limited operates as a chemical and energy company in South Africa and internationally. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch catalysts; carbon-based and recarburiser products; graphite electrodes; and mono-ethylene glycol and chlor-alkali products, monomers, mining chemicals and reagents, blends and hydrocarbons, methanol products, polymers, phenolics, and fertilizers.