New York State Teachers Retirement System Raises Stock Position in Element Solutions Inc. $ESI

New York State Teachers Retirement System lifted its position in Element Solutions Inc. (NYSE:ESI) by 19.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,024 shares of the company’s stock after purchasing an additional 13,696 shares during the period. New York State Teachers Retirement System’s holdings in Element Solutions were worth $1,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in Element Solutions by 1.2% during the 1st quarter. Mackenzie Financial Corp now owns 45,210 shares of the company’s stock valued at $1,022,000 after purchasing an additional 529 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Element Solutions by 0.8% in the second quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company’s stock valued at $1,722,000 after acquiring an additional 619 shares in the last quarter. KBC Group NV lifted its stake in Element Solutions by 7.1% in the first quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after acquiring an additional 681 shares during the period. Yousif Capital Management LLC grew its holdings in Element Solutions by 1.0% during the 2nd quarter. Yousif Capital Management LLC now owns 83,682 shares of the company’s stock worth $1,895,000 after acquiring an additional 828 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in Element Solutions by 1.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the company’s stock worth $1,083,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Edward Capps sold 77,674 shares of Element Solutions stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the completion of the sale, the executive vice president directly owned 609,790 shares in the company, valued at approximately $16,324,078.30. The trade was a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Liebowitz sold 50,000 shares of the business’s stock in a transaction 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 sale, the executive vice president directly owned 57,353 shares in the company, valued at $1,522,722.15. This trade represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,399 shares of company stock worth $4,492,561 in the last three months. Corporate insiders own 6.90% of the company’s stock.

Element Solutions Stock Performance

Shares of ESI stock opened at $26.12 on Wednesday. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78. The business’s fifty day simple moving average is $25.75 and its 200-day simple moving average is $23.24. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.31 billion, a PE ratio of 26.12, a PEG ratio of 1.72 and a beta of 1.31.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The firm had revenue of $625.20 million during the quarter, compared to analysts’ expectations of $587.45 million. During the same quarter last year, the firm earned $0.36 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions’s dividend payout ratio (DPR) is presently 32.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. Mizuho boosted their price objective on shares of Element Solutions from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. KeyCorp upped their target price on Element Solutions from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Bank of America lifted their price target on Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Finally, UBS Group upped their price objective on Element Solutions from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

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.