Parallel Advisors LLC Sells 695 Shares of Element Solutions Inc (NYSE:ESI)

Parallel Advisors LLC reduced its stake in Element Solutions Inc (NYSE:ESI) by 21.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,521 shares of the company’s stock after selling 695 shares during the period. Parallel Advisors LLC’s holdings in Element Solutions were worth $57,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TD Private Client Wealth LLC bought a new position in shares of Element Solutions in the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new position in Element Solutions during the fourth quarter worth about $28,000. First Horizon Advisors Inc. lifted its holdings in Element Solutions by 610.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $29,000 after acquiring an additional 971 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in Element Solutions during the fourth quarter worth about $48,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Element Solutions during the fourth quarter worth about $68,000. 92.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ESI. Truist Financial upgraded Element Solutions from a “hold” rating to a “buy” rating and reduced their target price for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Wall Street Zen lowered Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. KeyCorp reduced their target price on Element Solutions from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Barclays dropped their price target on Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, The Goldman Sachs Group dropped their price target on Element Solutions from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.38.

Element Solutions Stock Performance

ESI opened at $21.68 on Monday. The business’s 50-day moving average price is $20.48 and its two-hundred day moving average price is $24.08. Element Solutions Inc has a 1 year low of $16.77 and a 1 year high of $29.78. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI) last released its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. Element Solutions’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities analysts expect that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Monday, June 2nd. Element Solutions’s dividend payout ratio is currently 26.89%.

Insider Activity at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. The trade was a 94.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Element Solutions Profile

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.