Ethic Inc. Trims Stake in Element Solutions Inc (NYSE:ESI)

Ethic Inc. lessened its position in Element Solutions Inc (NYSE:ESI) by 21.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 48,702 shares of the company’s stock after selling 12,985 shares during the period. Ethic Inc.’s holdings in Element Solutions were worth $1,238,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC raised its position in Element Solutions by 96.0% in the 3rd quarter. Barclays PLC now owns 108,174 shares of the company’s stock worth $2,938,000 after purchasing an additional 52,973 shares during the period. Moody National Bank Trust Division grew its stake in shares of Element Solutions by 20.3% during the fourth quarter. Moody National Bank Trust Division now owns 37,888 shares of the company’s stock valued at $963,000 after buying an additional 6,402 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Element Solutions in the fourth quarter worth approximately $1,947,000. Park Avenue Securities LLC raised its holdings in shares of Element Solutions by 79.0% in the fourth quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock worth $1,541,000 after buying an additional 26,753 shares during the period. Finally, Trust Co. of Vermont bought a new stake in shares of Element Solutions during the 4th quarter worth approximately $43,000. 92.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of the transaction, the director now directly owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. The trade was a 94.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. KeyCorp cut their price target on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. The Goldman Sachs Group dropped their target price on shares of Element Solutions from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial raised shares of Element Solutions from a “hold” rating to a “buy” rating and reduced their target price for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.38.

Element Solutions Trading Down 0.3%

NYSE ESI opened at $22.78 on Wednesday. Element Solutions Inc has a one year low of $16.77 and a one year high of $29.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. The company’s 50-day simple moving average is $21.70 and its two-hundred day simple moving average is $24.90.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. Equities analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions 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.