Kornitzer Capital Management Inc. KS Sells 52,500 Shares of Element Solutions Inc. $ESI

Kornitzer Capital Management Inc. KS lowered its holdings in Element Solutions Inc. (NYSE:ESI) by 54.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,300 shares of the company’s stock after selling 52,500 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Element Solutions were worth $1,115,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ESI. Elevation Point Wealth Partners LLC bought a new stake in shares of Element Solutions in the second quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its stake in Element Solutions by 154.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock valued at $28,000 after purchasing an additional 678 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Element Solutions by 710.1% in the 2nd 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. Fifth Third Bancorp boosted its holdings in Element Solutions by 462.5% in the 2nd quarter. Fifth Third Bancorp now owns 2,160 shares of the company’s stock valued at $49,000 after purchasing an additional 1,776 shares during the period. Finally, SJS Investment Consulting Inc. grew its position in Element Solutions by 6,693.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,970 shares of the company’s stock worth $50,000 after purchasing an additional 1,941 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group increased their target price on shares of Element Solutions from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a report on Wednesday, January 21st. CJS Securities upgraded Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Truist Financial lifted their price objective on Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Mizuho cut their target price on Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Element Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Element Solutions Stock Up 1.9%

Shares of ESI opened at $29.86 on Thursday. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $26.75 and a two-hundred day moving average price of $25.91. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 30.16, a P/E/G ratio of 1.24 and a beta of 1.28. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $30.21.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $656.10 million during the quarter, compared to analysts’ expectations of $645.13 million. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.Element Solutions’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. Equities analysts predict that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, December 1st. Element Solutions’s dividend payout ratio is currently 32.32%.

Insiders Place Their Bets

In other Element Solutions news, Director Ian G. H. Ashken sold 292,000 shares of Element Solutions stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the completion of the transaction, the director directly owned 306,880 shares of the company’s stock, valued at approximately $8,285,760. This trade represents a 48.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Liebowitz sold 37,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the completion of the sale, the insider owned 117,393 shares in the company, valued at $3,122,653.80. This represents a 23.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.90% of the stock is currently owned by company insiders.

About Element Solutions

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.