Peregrine Capital Management LLC Sells 144,881 Shares of Element Solutions Inc. $ESI

Peregrine Capital Management LLC reduced its holdings in Element Solutions Inc. (NYSE:ESI) by 21.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 523,976 shares of the company’s stock after selling 144,881 shares during the quarter. Element Solutions accounts for approximately 0.7% of Peregrine Capital Management LLC’s portfolio, making the stock its 28th largest position. Peregrine Capital Management LLC’s holdings in Element Solutions were worth $17,889,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Element Solutions by 339.3% in the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock valued at $10,098,000 after purchasing an additional 344,950 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Element Solutions by 60.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock worth $42,825,000 after purchasing an additional 712,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Element Solutions by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company’s stock valued at $19,726,000 after purchasing an additional 37,204 shares during the last quarter. Focus Partners Wealth bought a new stake in Element Solutions in the first quarter valued at about $400,000. Finally, Amundi lifted its stake in Element Solutions by 258,233.3% in the second quarter. Amundi now owns 93,000 shares of the company’s stock valued at $2,237,000 after buying an additional 92,964 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Up 3.4%

NYSE:ESI opened at $47.87 on Wednesday. Element Solutions Inc. has a 1 year low of $22.44 and a 1 year high of $49.25. The stock has a 50-day moving average price of $42.72 and a two-hundred day moving average price of $35.16. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 77.20, a PEG ratio of 1.62 and a beta of 1.25. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $710.51 million. During the same quarter last year, the firm posted $0.34 earnings per share. Element Solutions’s revenue was up 41.5% compared to the same quarter last year. As a group, equities analysts expect that Element Solutions Inc. will post 1.78 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ESI shares. Truist Financial boosted their target price on Element Solutions from $38.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Element Solutions in a research report on Wednesday, May 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Freedom Capital upgraded shares of Element Solutions to a “strong-buy” rating in a report on Friday, March 27th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a research note on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $39.57.

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.