Element Solutions Inc. $ESI Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its stake in Element Solutions Inc. (NYSE:ESI) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,051 shares of the company’s stock after selling 16,871 shares during the period. Legal & General Group Plc owned approximately 0.24% of Element Solutions worth $14,770,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Iridian Asset Management LLC CT raised its position in Element Solutions by 37.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock worth $6,603,000 after buying an additional 71,686 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Element Solutions by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock worth $207,822,000 after acquiring an additional 139,751 shares during the period. Bessemer Group Inc. increased its stake in shares of Element Solutions by 18.6% during the third quarter. Bessemer Group Inc. now owns 1,234,941 shares of the company’s stock worth $31,083,000 after acquiring an additional 193,487 shares during the period. American Century Companies Inc. raised its holdings in Element Solutions by 28.0% during the third quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock worth $105,609,000 after purchasing an additional 916,804 shares in the last quarter. Finally, Peak Financial Advisors LLC raised its holdings in Element Solutions by 282.4% during the fourth quarter. Peak Financial Advisors LLC now owns 79,797 shares of the company’s stock worth $1,994,000 after purchasing an additional 58,929 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Price Performance

ESI stock opened at $42.66 on Wednesday. The firm has a 50 day moving average of $38.91 and a 200-day moving average of $32.41. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 68.80, a PEG ratio of 1.45 and a beta of 1.25. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Element Solutions Inc. has a 12-month low of $20.95 and a 12-month high of $45.51.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company’s revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, equities analysts expect that Element Solutions Inc. will post 1.78 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions’s dividend payout ratio is 51.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. KeyCorp lifted their price objective on Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a report on Tuesday, May 19th. Truist Financial lifted their price target on Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Mizuho upped their price objective on Element Solutions from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, UBS Group increased their price objective on Element Solutions to $52.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $39.57.

About Element Solutions

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.