Sasol Limited (NYSE:SSL – Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 376,190 shares traded hands during trading, a decline of 40% from the previous session’s volume of 628,198 shares.The stock last traded at $9.23 and had previously closed at $8.74.
Analyst Upgrades and Downgrades
Separately, StockNews.com downgraded Sasol from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 11th.
Check Out Our Latest Research Report on SSL
Sasol Stock Performance
Sasol Cuts Dividend
The company also recently declared a semi-annual dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.5248 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a dividend yield of 6.9%.
Hedge Funds Weigh In On Sasol
Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James & Associates bought a new position in Sasol in the 1st quarter worth $595,000. BlackRock Inc. raised its holdings in Sasol by 3.2% in the 1st quarter. BlackRock Inc. now owns 323,713 shares of the oil and gas company’s stock worth $7,828,000 after purchasing an additional 9,940 shares during the period. Yousif Capital Management LLC bought a new position in Sasol in the 1st quarter worth $235,000. Cibc World Market Inc. bought a new position in Sasol in the 1st quarter worth $598,000. Finally, Renaissance Technologies LLC raised its holdings in Sasol by 342.0% in the 1st quarter. Renaissance Technologies LLC now owns 61,000 shares of the oil and gas company’s stock worth $1,475,000 after purchasing an additional 47,200 shares during the period. 1.21% of the stock is owned by institutional investors.
About Sasol
Sasol Limited operates as an integrated chemical and energy company in South Africa. It offers alumina, such as battery materials, catalyst supports, abrasives and polishing, and polymer additives; cobalt fischer-tropsch; carbon-based products; recarburiser; graphite electrodes; mono-ethylene glycol, ethylene, propylene, sasfroth blends, sodium cyanide, caustic soda, hydrochloric acid, sulfuric acid, calcium chloride, chlorine, alcohols, aromatic blends, methyl alcohol, polyethylene, polypropylene, polyvinyl chloride, cresols, xylenols, phenols, limestone ammonium nitrate, ammonium nitrate solution, and nitric acid.
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