Treasurer of the State of North Carolina raised its position in shares of Element Solutions Inc (NYSE:ESI) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,345 shares of the company’s stock after acquiring an additional 4,380 shares during the period. Treasurer of the State of North Carolina’s holdings in Element Solutions were worth $1,069,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Kings Point Capital Management bought a new stake in Element Solutions during the second quarter valued at about $46,000. Pinebridge Investments L.P. bought a new stake in shares of Element Solutions in the second quarter valued at about $79,000. Symons Capital Management Inc. bought a new stake in shares of Element Solutions in the second quarter valued at about $122,000. HighTower Advisors LLC bought a new stake in shares of Element Solutions in the second quarter valued at about $135,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Element Solutions in the second quarter valued at about $154,000. Institutional investors own 88.25% of the company’s stock.
Several equities research analysts recently weighed in on ESI shares. Zacks Investment Research cut shares of Element Solutions from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a research note on Thursday. SunTrust Banks dropped their price target on shares of Element Solutions from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Friday. ValuEngine raised shares of Element Solutions from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Barclays reissued a “hold” rating and issued a $11.00 price target on shares of Element Solutions in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada started coverage on shares of Element Solutions in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $8.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Element Solutions has an average rating of “Hold” and a consensus target price of $9.10.
Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The company had revenue of $456.70 million during the quarter, compared to analyst estimates of $468.94 million. Element Solutions had a negative net margin of 18.53% and a positive return on equity of 5.76%. The business’s revenue was down 9.0% on a year-over-year basis. On average, research analysts expect that Element Solutions Inc will post 0.85 EPS for the current year.
In other news, CEO Benjamin Gliklich acquired 7,500 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $9.54 per share, with a total value of $71,550.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Scot Benson acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $9.37 per share, with a total value of $93,700.00. The disclosure for this purchase can be found here. Company insiders own 13.30% of the company’s stock.
Element Solutions Profile
Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
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