GAMMA Investing LLC Boosts Stake in Element Solutions Inc. $ESI

GAMMA Investing LLC lifted its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 416.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,539 shares of the company’s stock after buying an additional 6,884 shares during the period. GAMMA Investing LLC’s holdings in Element Solutions were worth $193,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ESI. SVB Wealth LLC bought a new position in Element Solutions during the first quarter valued at approximately $37,000. Eagle Bay Advisors LLC lifted its holdings in shares of Element Solutions by 940.6% during the 1st quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company’s stock valued at $52,000 after buying an additional 2,060 shares during the period. Covestor Ltd lifted its holdings in shares of Element Solutions by 311.3% during the 1st quarter. Covestor Ltd now owns 3,126 shares of the company’s stock valued at $71,000 after buying an additional 2,366 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of Element Solutions by 1,707.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company’s stock worth $192,000 after buying an additional 8,041 shares during the last quarter. Finally, Corebridge Financial Inc. grew its holdings in shares of Element Solutions by 459.4% in the first quarter. Corebridge Financial Inc. now owns 8,698 shares of the company’s stock worth $197,000 after acquiring an additional 7,143 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP John Edward Capps sold 77,674 shares of Element Solutions stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the sale, the executive vice president owned 609,790 shares of the company’s stock, valued at approximately $16,324,078.30. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carey J. Dorman sold 40,725 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the completion of the transaction, the executive vice president owned 214,837 shares of the company’s stock, valued at $5,727,554.42. The trade was a 15.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,399 shares of company stock worth $4,492,561 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Element Solutions Price Performance

NYSE ESI opened at $24.95 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $29.78. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.63 and a beta of 1.31. The company’s 50 day moving average is $25.07 and its two-hundred day moving average is $23.04.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $625.20 million during the quarter, compared to analysts’ expectations of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Element Solutions’s dividend payout ratio (DPR) is currently 32.00%.

Wall Street Analyst Weigh In

ESI has been the topic of a number of recent research reports. Fermium Researc raised Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. KeyCorp boosted their target price on shares of Element Solutions from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Mizuho increased their price target on shares of Element Solutions from $24.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, UBS Group boosted their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.38.

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.