Segall Bryant & Hamill LLC Lowers Stake in Element Solutions Inc. $ESI

Segall Bryant & Hamill LLC cut its stake in Element Solutions Inc. (NYSE:ESI) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 2,409,543 shares of the company’s stock after selling 147,191 shares during the period. Element Solutions accounts for about 0.8% of Segall Bryant & Hamill LLC’s holdings, making the stock its 12th largest position. Segall Bryant & Hamill LLC’s holdings in Element Solutions were worth $60,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Scopus Asset Management L.P. boosted its position in Element Solutions by 134.6% in the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after buying an additional 1,965,691 shares during the period. Ilex Capital Partners UK LLP raised its stake in shares of Element Solutions by 61.7% during the second quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company’s stock valued at $105,465,000 after acquiring an additional 1,777,265 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Element Solutions by 253.4% in the third quarter. Thrivent Financial for Lutherans now owns 2,349,862 shares of the company’s stock valued at $59,146,000 after purchasing an additional 1,684,994 shares during the period. Merewether Investment Management LP purchased a new stake in shares of Element Solutions in the second quarter valued at approximately $28,031,000. Finally, SG Capital Management LLC bought a new position in Element Solutions in the second quarter worth approximately $26,257,000. Institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 target price on shares of Element Solutions in a report on Monday, February 23rd. Wall Street Zen raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Truist Financial increased their target price on shares of Element Solutions from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. UBS Group boosted their price target on shares of Element Solutions from $34.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, CJS Securities raised shares of Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $35.75.

Insider Activity

In other news, insider Matthew Liebowitz sold 37,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $26.60, for a total transaction of $984,200.00. Following the sale, the insider owned 117,393 shares in the company, valued at approximately $3,122,653.80. The trade was a 23.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director E Stanley Oneal sold 143,564 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total transaction of $5,099,393.28. Following the transaction, the director owned 147,832 shares in the company, valued at approximately $5,250,992.64. This trade represents a 49.27% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Element Solutions Stock Down 1.3%

NYSE:ESI opened at $34.65 on Tuesday. The company’s 50-day simple moving average is $29.85 and its 200-day simple moving average is $27.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.00 and a current ratio of 3.68. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $37.74. The stock has a market capitalization of $8.44 billion, a P/E ratio of 43.86, a P/E/G ratio of 1.60 and a beta of 1.23.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $676.20 million during the quarter, compared to analyst estimates of $632.40 million. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. Element Solutions’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. On average, equities analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, March 2nd. Element Solutions’s payout ratio is 40.51%.

Element Solutions Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.