Allspring Global Investments Holdings LLC Lowers Position in Element Solutions Inc (NYSE:ESI)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Element Solutions Inc (NYSE:ESI) by 45.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 350,610 shares of the company’s stock after selling 287,250 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Element Solutions were worth $8,113,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Element Solutions by 85.6% during the third quarter. EverSource Wealth Advisors LLC now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 608 shares in the last quarter. Covestor Ltd raised its stake in Element Solutions by 32.1% in the first quarter. Covestor Ltd now owns 2,845 shares of the company’s stock valued at $62,000 after purchasing an additional 692 shares in the last quarter. MetLife Investment Management LLC bought a new stake in Element Solutions during the first quarter valued at approximately $101,000. Arlington Trust Co LLC purchased a new position in Element Solutions in the 4th quarter worth approximately $141,000. Finally, Captrust Financial Advisors grew its stake in Element Solutions by 86.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,232 shares of the company’s stock worth $111,000 after buying an additional 2,889 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, CEO Benjamin Gliklich sold 61,667 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $23.20, for a total value of $1,430,674.40. Following the transaction, the chief executive officer now owns 704,395 shares in the company, valued at $16,341,964. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Benjamin Gliklich sold 61,667 shares of Element Solutions stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $23.20, for a total value of $1,430,674.40. Following the sale, the chief executive officer now directly owns 704,395 shares in the company, valued at approximately $16,341,964. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Carey J. Dorman sold 14,774 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $23.20, for a total value of $342,756.80. Following the transaction, the chief financial officer now directly owns 171,551 shares in the company, valued at $3,979,983.20. The disclosure for this sale can be found here. Insiders sold 97,203 shares of company stock valued at $2,255,110 in the last quarter. Company insiders own 7.90% of the company’s stock.

Element Solutions Stock Down 1.3 %

Shares of NYSE:ESI opened at $23.77 on Thursday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 48.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.32. The stock’s 50-day moving average price is $24.11 and its 200-day moving average price is $22.03. The company has a current ratio of 3.24, a quick ratio of 2.43 and a debt-to-equity ratio of 0.82. Element Solutions Inc has a 12-month low of $17.08 and a 12-month high of $25.81.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Element Solutions had a return on equity of 13.51% and a net margin of 5.06%. The business had revenue of $573.40 million for the quarter, compared to analyst estimates of $590.43 million. During the same period last year, the company earned $0.29 EPS. Element Solutions’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Element Solutions Inc will post 1.4 earnings per share for the current year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.35%. Element Solutions’s dividend payout ratio is currently 65.31%.

Wall Street Analysts Forecast Growth

ESI has been the subject of a number of research analyst reports. Wolfe Research started coverage on shares of Element Solutions in a report on Friday, March 1st. They set a “peer perform” rating for the company. The Goldman Sachs Group lifted their price target on Element Solutions from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. UBS Group raised their price objective on Element Solutions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Barclays upped their target price on Element Solutions from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.60.

About Element Solutions

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.