Morgan Stanley boosted its position in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) by 199.4% during the second quarter, HoldingsChannel.com reports. The fund owned 124,291 shares of the oil and gas company’s stock after buying an additional 82,781 shares during the quarter. Morgan Stanley’s holdings in Sinopec Shanghai Petrochemical were worth $4,965,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Yorktown Management & Research Co Inc bought a new position in Sinopec Shanghai Petrochemical in the second quarter valued at approximately $495,000. Atria Investments LLC bought a new position in Sinopec Shanghai Petrochemical in the second quarter valued at approximately $428,000. Parametric Portfolio Associates LLC increased its stake in Sinopec Shanghai Petrochemical by 9.2% in the second quarter. Parametric Portfolio Associates LLC now owns 111,316 shares of the oil and gas company’s stock valued at $4,447,000 after acquiring an additional 9,385 shares during the last quarter. Signaturefd LLC increased its stake in Sinopec Shanghai Petrochemical by 28.8% in the second quarter. Signaturefd LLC now owns 1,917 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 429 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Sinopec Shanghai Petrochemical by 2.0% in the second quarter. Aperio Group LLC now owns 111,217 shares of the oil and gas company’s stock valued at $4,443,000 after acquiring an additional 2,165 shares during the last quarter. 1.58% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on SHI. Credit Suisse Group raised shares of Sinopec Shanghai Petrochemical from an “underperform” rating to a “neutral” rating in a research note on Wednesday. Zacks Investment Research cut shares of Sinopec Shanghai Petrochemical from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 17th. Finally, ValuEngine raised shares of Sinopec Shanghai Petrochemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.00.
NYSE SHI opened at $28.61 on Thursday. The firm’s fifty day moving average price is $29.35 and its two-hundred day moving average price is $37.32. The stock has a market cap of $3.10 billion, a PE ratio of 3.99 and a beta of 1.04. Sinopec Shanghai Petrochemical Co. has a fifty-two week low of $28.02 and a fifty-two week high of $52.67.
Sinopec Shanghai Petrochemical (NYSE:SHI) last posted its earnings results on Wednesday, August 21st. The oil and gas company reported $0.72 earnings per share for the quarter. The firm had revenue of $3.94 billion for the quarter. Sinopec Shanghai Petrochemical had a net margin of 2.74% and a return on equity of 9.68%. As a group, analysts expect that Sinopec Shanghai Petrochemical Co. will post 3.3 EPS for the current year.
About Sinopec Shanghai Petrochemical
Sinopec Shanghai Petrochemical Company Limited, together with its subsidiaries, manufactures and sells petrochemical products in the People's Republic of China. The company operates through five segments: Synthetic Fibres, Resins and Plastics, Intermediate Petrochemicals, Petroleum Products, and Trading of Petrochemical Products.
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