Iridian Asset Management LLC CT Sells 18,199 Shares of Element Solutions Inc. $ESI

Iridian Asset Management LLC CT trimmed its position in shares of Element Solutions Inc. (NYSE:ESI) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,525 shares of the company’s stock after selling 18,199 shares during the quarter. Element Solutions makes up 1.9% of Iridian Asset Management LLC CT’s holdings, making the stock its 16th biggest holding. Iridian Asset Management LLC CT’s holdings in Element Solutions were worth $4,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ESI. Oregon Public Employees Retirement Fund raised its holdings in Element Solutions by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 51,200 shares of the company’s stock valued at $1,289,000 after buying an additional 400 shares during the last quarter. Maryland State Retirement & Pension System grew its holdings in Element Solutions by 0.8% during the 2nd quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company’s stock worth $1,722,000 after acquiring an additional 619 shares during the last quarter. Farther Finance Advisors LLC increased its position in Element Solutions by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock valued at $28,000 after acquiring an additional 678 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Element Solutions by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 218,152 shares of the company’s stock valued at $4,941,000 after acquiring an additional 740 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Element Solutions by 19.0% during the third quarter. Nisa Investment Advisors LLC now owns 4,760 shares of the company’s stock worth $120,000 after purchasing an additional 760 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Bank of America increased their price objective on Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Fermium Researc upgraded Element Solutions to a “strong-buy” rating in a research report on Wednesday, September 17th. CJS Securities raised Element Solutions to a “strong-buy” rating in a research note on Thursday, December 11th. KeyCorp lifted their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets cut Element Solutions from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Element Solutions Stock Up 1.8%

Shares of Element Solutions stock opened at $28.04 on Monday. The stock’s 50-day moving average is $26.10 and its 200 day moving average is $25.46. Element Solutions Inc. has a one year low of $16.77 and a one year high of $28.13. The firm has a market cap of $6.79 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.19 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.28.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The business had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, December 1st. Element Solutions’s payout ratio is presently 32.32%.

Insider Buying and Selling at Element Solutions

In other news, insider Matthew Liebowitz sold 37,000 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the transaction, the insider owned 117,393 shares in the company, valued at approximately $3,122,653.80. This represents a 23.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian G. H. Ashken sold 292,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the transaction, the director directly owned 306,880 shares in the company, valued at $8,285,760. This trade represents a 48.76% decrease in their position. The SEC filing for this sale provides additional information. 6.90% of the stock is owned by corporate insiders.

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.