Edgestream Partners L.P. Acquires Shares of 145,817 Element Solutions Inc. $ESI

Edgestream Partners L.P. bought a new stake in Element Solutions Inc. (NYSE:ESI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 145,817 shares of the company’s stock, valued at approximately $3,303,000. Edgestream Partners L.P. owned approximately 0.06% of Element Solutions as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ESI. Cetera Investment Advisers raised its holdings in Element Solutions by 25.0% in the first quarter. Cetera Investment Advisers now owns 70,319 shares of the company’s stock valued at $1,590,000 after acquiring an additional 14,079 shares in the last quarter. LPL Financial LLC grew its holdings in Element Solutions by 8.7% during the 1st quarter. LPL Financial LLC now owns 129,474 shares of the company’s stock worth $2,927,000 after acquiring an additional 10,369 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Element Solutions by 1.2% in the 1st quarter. Mackenzie Financial Corp now owns 45,210 shares of the company’s stock worth $1,022,000 after purchasing an additional 529 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Element Solutions in the 1st quarter valued at about $359,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Element Solutions by 107.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,765 shares of the company’s stock valued at $311,000 after purchasing an additional 7,121 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Element Solutions news, EVP John Edward Capps sold 77,674 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.77, for a total value of $2,079,332.98. Following the completion of the transaction, the executive vice president owned 609,790 shares in the company, valued at approximately $16,324,078.30. This represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Matthew Liebowitz sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the completion of the sale, the executive vice president owned 57,353 shares in the company, valued at $1,522,722.15. The trade was a 46.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 460,399 shares of company stock worth $12,376,561 over the last ninety days. Insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

ESI has been the subject of a number of research reports. KeyCorp lifted their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Bank of America lifted their target price on Element Solutions from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Truist Financial boosted their price target on Element Solutions from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, October 8th. Finally, Mizuho decreased their price objective on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.75.

Element Solutions Stock Up 1.8%

NYSE:ESI opened at $25.98 on Thursday. The company has a current ratio of 4.05, a quick ratio of 3.28 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $25.90 and a 200-day moving average of $24.58. The firm has a market capitalization of $6.29 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $28.27.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The business had revenue of $656.10 million for the quarter, compared to the consensus estimate of $645.13 million. During the same quarter last year, the business posted $0.39 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Analysts predict that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Element Solutions’s payout ratio is 32.32%.

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.