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

Mirae Asset Global Investments Co. Ltd. bought a new position in Sasol Ltd. (NYSE:SSL) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 78,528 shares of the oil and gas company’s stock, valued at approximately $1,085,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SSL. Parallel Advisors LLC lifted its holdings in shares of Sasol by 4.6% during the first quarter. Parallel Advisors LLC now owns 20,894 shares of the oil and gas company’s stock valued at $271,000 after purchasing an additional 915 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake 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 worth $102,000 after purchasing an additional 1,033 shares in the last quarter. Signaturefd LLC increased its stake in Sasol by 9.1% in the 3rd quarter. Signaturefd LLC now owns 42,951 shares of the oil and gas company’s stock worth $594,000 after purchasing an additional 3,570 shares in the last quarter. Compound Planning Inc. raised its holdings in Sasol by 41.8% during the 1st quarter. Compound Planning Inc. now owns 14,678 shares of the oil and gas company’s stock worth $190,000 after buying an additional 4,330 shares during the period. Finally, Mather Group LLC. acquired a new stake in Sasol during the 3rd quarter worth about $83,000. 1.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sasol

In other Sasol news, EVP Vuyo Dominic Kahla sold 21,640 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $14.14, for a total value of $305,989.60. Following the transaction, the executive vice president directly owned 114,792 shares of the company’s stock, valued at $1,623,158.88. This represents a 15.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Walt Bruns sold 1,798 shares of the company’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $14.14, for a total value of $25,423.72. Following the completion of the transaction, the chief financial officer directly owned 54,819 shares in the company, valued at approximately $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 worth $800,983 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sasol Trading Up 0.1%

SSL stock opened at $14.84 on Monday. The company has a 50 day moving average of $14.80 and a two-hundred day moving average of $12.04. Sasol Ltd. has a 12-month low of $5.97 and a 12-month high of $18.19. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49.

Sasol (NYSE:SSL) last posted its quarterly earnings results on Friday, August 14th. The oil and gas company reported $0.56 EPS for the quarter. The company had revenue of $4.61 billion for the quarter. As a group, research analysts predict that Sasol Ltd. will post 2.99 EPS for the current year.

Sasol Company Profile

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.