Element Solutions Inc. $ESI Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Element Solutions Inc. (NYSE:ESI) by 4.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 883,656 shares of the company’s stock after buying an additional 37,610 shares during the period. Envestnet Asset Management Inc. owned 0.37% of Element Solutions worth $22,242,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ESI. Farther Finance Advisors LLC increased its position in Element Solutions by 154.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock valued at $28,000 after acquiring an additional 678 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Element Solutions in the 2nd quarter valued at approximately $26,000. First Horizon Advisors Inc. increased its holdings in shares of Element Solutions by 710.1% in the second quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock valued at $29,000 after purchasing an additional 1,129 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Element Solutions by 6,693.1% in the third quarter. SJS Investment Consulting Inc. now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,941 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Element Solutions during the third quarter worth approximately $56,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Up 0.7%

ESI opened at $32.33 on Friday. The firm has a market cap of $7.82 billion, a P/E ratio of 32.66, a PEG ratio of 1.36 and a beta of 1.28. The business’s fifty day simple moving average is $27.93 and its 200 day simple moving average is $26.41. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $33.34. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.08 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.32 annualized dividend and a yield of 1.0%. Element Solutions’s payout ratio is 32.32%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ESI. KeyCorp lifted their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Bank of America lifted their target price on shares of Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, January 26th. Mizuho dropped their price target on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Truist Financial increased their price target on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, CJS Securities raised Element Solutions to a “strong-buy” rating in a report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Buying and Selling at Element Solutions

In other news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $26.60, for a total transaction of $984,200.00. Following the sale, the insider owned 117,393 shares in the company, valued at $3,122,653.80. This trade represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.90% of the stock is currently owned by corporate insiders.

Element Solutions 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.