Element Solutions Inc. $ESI Stock Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc trimmed its stake in shares of Element Solutions Inc. (NYSE:ESI) by 30.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,025 shares of the company’s stock after selling 101,733 shares during the quarter. Fenimore Asset Management Inc owned 0.10% of Element Solutions worth $8,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. QRG Capital Management Inc. boosted its stake in shares of Element Solutions by 20.3% in the 2nd quarter. QRG Capital Management Inc. now owns 10,476 shares of the company’s stock valued at $500,000 after buying an additional 1,765 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Element Solutions by 2.8% during the second quarter. Sequoia Financial Advisors LLC now owns 30,771 shares of the company’s stock worth $1,469,000 after buying an additional 826 shares during the period. Tidal Investments LLC raised its holdings in Element Solutions by 72.9% in the second quarter. Tidal Investments LLC now owns 35,763 shares of the company’s stock valued at $1,708,000 after acquiring an additional 15,077 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Element Solutions in the second quarter valued at approximately $27,000. Finally, NewEdge Advisors LLC lifted its stake in Element Solutions by 471.3% in the second quarter. NewEdge Advisors LLC now owns 5,422 shares of the company’s stock worth $259,000 after acquiring an additional 4,473 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Performance

Shares of ESI traded down $0.48 during midday trading on Thursday, reaching $36.69. 4,353,879 shares of the stock were exchanged, compared to its average volume of 3,785,787. The business’s 50-day moving average price is $35.98 and its 200 day moving average price is $38.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.91 and a quick ratio of 2.11. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.40 and a beta of 1.26.

Element Solutions (NYSE:ESI) last announced its earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $977.90 million during the quarter, compared to analysts’ expectations of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The business’s revenue was up 56.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts expect that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions’s payout ratio is presently 43.24%.

Wall Street Analyst Weigh In

ESI has been the topic of a number of recent analyst reports. William Blair set a $48.00 price objective on shares of Element Solutions in a research report on Friday, August 28th. The Goldman Sachs Group assumed coverage on shares of Element Solutions in a research note on Friday, September 11th. They set a “buy” rating and a $44.00 target price for the company. Weiss Ratings lowered Element Solutions from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 10th. Bank of America initiated coverage on Element Solutions in a research note on Tuesday, September 1st. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Truist Financial upped their price objective on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $45.50.

Element Solutions Company Profile

Element Solutions Inc (NYSE: ESI) is a specialty chemicals company that develops and manufactures products used in electronics, industrial processes, and other specialized applications. Its materials and process solutions are designed to improve manufacturing performance, product reliability, and surface protection across a range of end markets.

The company’s Electronics segment supplies chemicals, materials, and equipment used in printed circuit board fabrication, semiconductor packaging, and other electronic component manufacturing.