Millennium Management LLC Raises Holdings in Sinopec Shanghai Petrochemical Co. (SHI)

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Millennium Management LLC boosted its holdings in Sinopec Shanghai Petrochemical Co. (NYSE:SHI) by 104.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,326 shares of the oil and gas company’s stock after acquiring an additional 44,641 shares during the quarter. Millennium Management LLC’s holdings in Sinopec Shanghai Petrochemical were worth $3,769,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC raised its position in Sinopec Shanghai Petrochemical by 1,512.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,580 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 1,482 shares in the last quarter. We Are One Seven LLC acquired a new stake in Sinopec Shanghai Petrochemical during the 4th quarter worth about $110,000. Wetherby Asset Management Inc. raised its holdings in Sinopec Shanghai Petrochemical by 8.8% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,372 shares of the oil and gas company’s stock worth $232,000 after buying an additional 436 shares during the period. Bank of Montreal Can raised its holdings in Sinopec Shanghai Petrochemical by 6.3% during the 4th quarter. Bank of Montreal Can now owns 8,259 shares of the oil and gas company’s stock worth $357,000 after buying an additional 488 shares during the period. Finally, OLD Mission Capital LLC raised its holdings in Sinopec Shanghai Petrochemical by 162.8% during the 4th quarter. OLD Mission Capital LLC now owns 28,501 shares of the oil and gas company’s stock worth $1,230,000 after buying an additional 17,654 shares during the period. Hedge funds and other institutional investors own 1.69% of the company’s stock.

NYSE SHI opened at $48.61 on Thursday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 5.78 and a beta of 1.12. Sinopec Shanghai Petrochemical Co. has a 1 year low of $42.01 and a 1 year high of $74.09.

The business also recently disclosed an annual dividend, which will be paid on Monday, July 29th. Shareholders of record on Monday, June 24th will be issued a dividend of $3.296 per share. The ex-dividend date is Friday, June 21st. This represents a yield of 6.54%. Sinopec Shanghai Petrochemical’s payout ratio is presently 49.46%.

Several analysts have issued reports on SHI shares. Zacks Investment Research downgraded Sinopec Shanghai Petrochemical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 26th. Credit Suisse Group downgraded Sinopec Shanghai Petrochemical from an “outperform” rating to a “neutral” rating in a report on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Sinopec Shanghai Petrochemical currently has an average rating of “Hold” and a consensus price target of $58.00.

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Sinopec Shanghai Petrochemical Company Profile

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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