Element Solutions Inc (NYSE:ESI) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd decreased its stake in shares of Element Solutions Inc (NYSE:ESI) by 38.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,922 shares of the company’s stock after selling 25,844 shares during the period. Point72 Hong Kong Ltd’s holdings in Element Solutions were worth $1,066,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Polar Asset Management Partners Inc. lifted its position in shares of Element Solutions by 61.6% during the fourth quarter. Polar Asset Management Partners Inc. now owns 162,075 shares of the company’s stock worth $4,122,000 after purchasing an additional 61,775 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Element Solutions by 69.8% in the fourth quarter. Quantinno Capital Management LP now owns 109,263 shares of the company’s stock worth $2,779,000 after acquiring an additional 44,931 shares during the last quarter. Numerai GP LLC acquired a new position in Element Solutions in the fourth quarter valued at approximately $259,000. Moore Capital Management LP acquired a new position in Element Solutions in the fourth quarter valued at approximately $6,278,000. Finally, London Co. of Virginia acquired a new position in Element Solutions in the fourth quarter valued at approximately $29,800,000. Institutional investors own 92.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ESI. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. BMO Capital Markets cut their price target on Element Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. KeyCorp cut their price target on Element Solutions from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Barclays cut their price target on Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Finally, Truist Financial raised Element Solutions from a “hold” rating to a “buy” rating and cut their price target for the company from $28.00 to $24.00 in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.38.

Element Solutions Stock Performance

NYSE ESI opened at $22.11 on Friday. The stock has a market cap of $5.36 billion, a P/E ratio of 21.68, a PEG ratio of 2.30 and a beta of 1.24. The company’s 50-day simple moving average is $21.55 and its 200 day simple moving average is $24.84. Element Solutions Inc has a twelve month low of $16.77 and a twelve month high of $29.78. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. Element Solutions’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. As a group, research analysts forecast that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Martin E. Franklin sold 2,000,000 shares of the 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 transaction, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. This represents a 94.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.90% of the company’s stock.

About Element Solutions

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.