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Atria Investments LLC Takes $428,000 Position in Sinopec Shanghai Petrochemical Co. (NYSE:SHI)

By September 14, 2019 No Comments

Atria Investments LLC bought a new position in shares of Sinopec Shanghai Petrochemical Co. (NYSE:SHI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,675 shares of the oil and gas company’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SHI. O Shaughnessy Asset Management LLC increased its stake in shares of Sinopec Shanghai Petrochemical by 9.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 59,895 shares of the oil and gas company’s stock worth $2,859,000 after buying an additional 5,050 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of Sinopec Shanghai Petrochemical during the second quarter worth about $495,000. Wetherby Asset Management Inc. grew its position in shares of Sinopec Shanghai Petrochemical by 24.7% during the first quarter. Wetherby Asset Management Inc. now owns 6,697 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 1,325 shares during the last quarter. Signaturefd LLC grew its position in shares of Sinopec Shanghai Petrochemical by 28.8% during the second quarter. Signaturefd LLC now owns 1,917 shares of the oil and gas company’s stock worth $77,000 after acquiring an additional 429 shares during the last quarter. Finally, Aperio Group LLC grew its position in shares of Sinopec Shanghai Petrochemical by 2.0% during the second quarter. Aperio Group LLC now owns 111,217 shares of the oil and gas company’s stock worth $4,443,000 after acquiring an additional 2,165 shares during the last quarter. 1.59% of the stock is currently owned by institutional investors and hedge funds.

SHI has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Sinopec Shanghai Petrochemical from an “overweight” rating to an “underweight” rating in a report on Monday, June 10th. Zacks Investment Research downgraded shares of Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Sinopec Shanghai Petrochemical has an average rating of “Hold” and an average price target of $43.00.

NYSE SHI traded up $0.04 on Friday, hitting $31.24. 14,869 shares of the company were exchanged, compared to its average volume of 86,854. The firm has a market capitalization of $3.23 billion, a P/E ratio of 4.36 and a beta of 1.04. Sinopec Shanghai Petrochemical Co. has a twelve month low of $28.03 and a twelve month high of $61.33. The company’s 50 day moving average price is $31.52 and its 200-day moving average price is $41.64.

Sinopec Shanghai Petrochemical (NYSE:SHI) last issued its earnings results on Wednesday, August 21st. The oil and gas company reported $0.72 earnings per share for the quarter. Sinopec Shanghai Petrochemical had a return on equity of 9.68% and a net margin of 2.74%. The company had revenue of $3.94 billion for the quarter. Equities research analysts expect that Sinopec Shanghai Petrochemical Co. will post 7.8 earnings per share for the current fiscal 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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Institutional Ownership by Quarter for Sinopec Shanghai Petrochemical (NYSE:SHI)

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