Allspring Global Investments Holdings LLC Sells 117,639 Shares of Element Solutions Inc. $ESI

Allspring Global Investments Holdings LLC lowered its stake in shares of Element Solutions Inc. (NYSE:ESI) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 286,958 shares of the company’s stock after selling 117,639 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.12% of Element Solutions worth $7,444,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ESI. Walnut Level Capital LLC purchased a new position in Element Solutions in the second quarter valued at approximately $1,812,000. Vest Financial LLC lifted its stake in Element Solutions by 126.1% in the third quarter. Vest Financial LLC now owns 115,531 shares of the company’s stock valued at $2,908,000 after purchasing an additional 64,433 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Element Solutions by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock worth $207,822,000 after purchasing an additional 139,751 shares during the period. World Investment Advisors bought a new position in Element Solutions during the third quarter worth about $1,185,000. Finally, American Century Companies Inc. increased its stake in shares of Element Solutions by 28.0% in the third quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock worth $105,609,000 after purchasing an additional 916,804 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Element Solutions from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. KeyCorp boosted their price target on shares of Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. BMO Capital Markets boosted their price target on shares of Element Solutions from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Freedom Capital raised shares of Element Solutions to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Bank of America boosted their price target on shares of Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $35.75.

Element Solutions Trading Down 0.4%

Shares of Element Solutions stock opened at $33.95 on Tuesday. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $37.74. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 42.98, a PEG ratio of 1.56 and a beta of 1.23. The company has a current ratio of 3.68, a quick ratio of 3.00 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $32.58 and its 200-day moving average price is $28.54.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $632.40 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, March 2nd. Element Solutions’s dividend payout ratio is presently 40.51%.

Insider Activity

In other news, Director E Stanley Oneal sold 143,564 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the sale, the director directly owned 147,832 shares of the company’s stock, valued at approximately $5,250,992.64. This represents a 49.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Element Solutions Company Profile

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.