Corundum Group Inc. Has $1.29 Million Holdings in Ecolab Inc. (NYSE:ECL)

Corundum Group Inc. reduced its holdings in Ecolab Inc. (NYSE:ECL - Free Report) by 32.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,067 shares of the basic materials company's stock after selling 2,481 shares during the period. Corundum Group Inc.'s holdings in Ecolab were worth $1,285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Miracle Mile Advisors LLC grew its holdings in Ecolab by 15.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 5,576 shares of the basic materials company's stock worth $1,414,000 after acquiring an additional 754 shares during the period. AMG National Trust Bank increased its position in shares of Ecolab by 16.0% during the fourth quarter. AMG National Trust Bank now owns 37,617 shares of the basic materials company's stock valued at $8,822,000 after buying an additional 5,189 shares during the period. DJE Kapital AG purchased a new stake in Ecolab in the fourth quarter valued at approximately $895,000. Congress Wealth Management LLC DE increased its position in shares of Ecolab by 1.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 104,153 shares of the basic materials company's stock valued at $24,405,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Ecolab by 19.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 120,176 shares of the basic materials company's stock worth $30,467,000 after buying an additional 19,431 shares during the period. Institutional investors own 74.91% of the company's stock.

Ecolab Price Performance

Ecolab stock traded down $2.86 during mid-day trading on Thursday, hitting $263.60. The company's stock had a trading volume of 1,675,458 shares, compared to its average volume of 1,168,911. The stock's fifty day moving average price is $256.95 and its two-hundred day moving average price is $250.95. The company has a quick ratio of 0.98, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $74.76 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.61 and a beta of 1.03. Ecolab Inc. has a twelve month low of $220.96 and a twelve month high of $273.69.

Ecolab (NYSE:ECL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The basic materials company reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Ecolab had a return on equity of 22.53% and a net margin of 13.41%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the company earned $1.34 earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. Research analysts forecast that Ecolab Inc. will post 7.54 earnings per share for the current year.

Ecolab Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 17th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 0.99%. Ecolab's dividend payout ratio is currently 35.33%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ECL shares. Robert W. Baird decreased their price target on shares of Ecolab from $277.00 to $273.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus decreased their target price on shares of Ecolab from $307.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Citigroup decreased their target price on Ecolab from $305.00 to $275.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised shares of Ecolab from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Finally, Redburn Atlantic downgraded shares of Ecolab from a "buy" rating to a "neutral" rating and set a $270.00 price target for the company. in a research note on Monday, March 24th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $283.13.

Insider Buying and Selling at Ecolab

In other Ecolab news, Director David Maclennan acquired 500 shares of Ecolab stock in a transaction on Wednesday, May 7th. The shares were purchased at an average cost of $251.75 per share, with a total value of $125,875.00. Following the completion of the purchase, the director now owns 19,465 shares in the company, valued at $4,900,313.75. The trade was a 2.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.04% of the company's stock.

About Ecolab

Ecolab Inc provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through three segments: Global Industrial; Global Institutional & Specialty; and Global Healthcare & Life Sciences. The Global Industrial segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, and petrochemical industries.