Mirae Asset Global Investments Co. Ltd. Buys 78,528 Shares of Sasol Ltd. $SSL

Key Points

• Mirae Asset Global Investments bought a new 78,528-share stake in Sasol during the third quarter, worth approximately $1.085 million. Other institutional investors also added to or initiated positions, though institutions collectively own just 1.21% of the company.
• Sasol reported quarterly earnings of $0.56 per share on $4.61 billion in revenue. Analyst views remain mixed, with a consensus rating of Hold (two Buy, four Hold, and one Sell ratings).
• Sasol executives sold shares in the quarter: insiders disposed of 60,412 shares worth about $801,000 over the past 90 days.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Sasol Ltd. (NYSE:SSL - Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 78,528 shares of the oil and gas company's stock, valued at approximately $1,085,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. bought a new position in shares of Sasol during the third quarter worth about $216,000. Pinnacle Wealth Planning Services Inc. lifted its position in Sasol by 16.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 7,385 shares of the oil and gas company's stock valued at $102,000 after purchasing an additional 1,033 shares during the last quarter. Signaturefd LLC boosted its stake in Sasol by 9.1% during the 3rd quarter. Signaturefd LLC now owns 42,951 shares of the oil and gas company's stock valued at $594,000 after purchasing an additional 3,570 shares during the period. Mather Group LLC. acquired a new position in Sasol during the 3rd quarter valued at about $83,000. Finally, Foster Group Inc. acquired a new position in Sasol during the 3rd quarter valued at about $142,000. Institutional investors and hedge funds own 1.21% of the company's stock.

Sasol Stock Performance

SSL opened at $14.84 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.79 and a quick ratio of 1.17. The stock's fifty day moving average is $14.80 and its 200-day moving average is $12.04. Sasol Ltd. has a one year low of $5.97 and a one year high of $18.19.

Sasol (NYSE:SSL - Get Free Report) last announced its earnings results on Friday, August 14th. The oil and gas company reported $0.56 earnings per share for the quarter. The firm had revenue of $4.61 billion for the quarter. On average, equities research analysts forecast that Sasol Ltd. will post 2.99 EPS for the current year.

Analyst Upgrades and Downgrades

SSL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Sasol from a "hold" rating to a "strong-buy" rating in a research report on Saturday, September 5th. Bank of America raised Sasol from a "neutral" rating to a "buy" rating in a report on Wednesday, September 9th. Zacks Research upgraded Sasol from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Finally, Weiss Ratings raised Sasol from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Sasol currently has a consensus rating of "Hold".

Insider Buying and Selling at Sasol

In other news, EVP Vuyo Dominic Kahla sold 21,640 shares of Sasol stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $14.14, for a total value of $305,989.60. Following the transaction, the executive vice president owned 114,792 shares of the company's stock, valued at $1,623,158.88. The trade was a 15.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Walt Bruns sold 1,798 shares of the business's stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $14.14, for a total transaction of $25,423.72. Following the completion of the sale, the chief financial officer owned 54,819 shares in the company, valued at $775,140.66. The trade was a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,412 shares of company stock valued at $800,983 over the last 90 days. Insiders own 1.00% of the company's stock.

About Sasol

Sasol is an integrated energy and chemicals company headquartered in South Africa. Founded in 1950, it developed expertise in converting coal and natural gas into liquid fuels and chemical products, including through Fischer-Tropsch technology.

The company produces and markets fuels, such as gasoline, diesel and aviation fuel, as well as a broad range of chemicals used in industries including manufacturing, agriculture and consumer goods. Its activities span energy and chemicals value chains, from feedstock processing to product marketing.

Sasol operates primarily in South Africa and also has operations in countries including the United States and Mozambique, with products sold to customers in markets around the world.

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