Element Solutions Inc. (NYSE:ESI) Position Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 31.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,410 shares of the company’s stock after selling 10,950 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Element Solutions were worth $529,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its holdings in Element Solutions by 1.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company’s stock worth $610,000 after purchasing an additional 423 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Element Solutions by 4.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock worth $287,000 after purchasing an additional 430 shares during the period. Arizona State Retirement System lifted its holdings in Element Solutions by 0.8% in the fourth quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock worth $1,698,000 after purchasing an additional 545 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Element Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock worth $2,502,000 after purchasing an additional 610 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Element Solutions by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company’s stock worth $169,000 after purchasing an additional 684 shares during the period. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Up 1.7%

NYSE:ESI opened at $23.02 on Friday. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $29.78. The stock’s 50 day moving average price is $21.31 and its two-hundred day moving average price is $23.51. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64.

Element Solutions (NYSE:ESI) last issued its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. During the same period in the previous year, the company posted $0.34 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.39%. Element Solutions’s dividend payout ratio is currently 26.89%.

Wall Street Analysts Forecast Growth

ESI has been the subject of a number of research analyst reports. KeyCorp cut their price target on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, April 14th. BMO Capital Markets cut their price target on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Barclays cut their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, April 28th. The Goldman Sachs Group cut their price target on shares of Element Solutions from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Mizuho upped their price target on shares of Element Solutions from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Element Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Element Solutions Company 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.