Element Solutions Inc. $ESI Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in Element Solutions Inc. (NYSE:ESI) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 591,051 shares of the company’s stock after selling 16,871 shares during the period. Legal & General Group Plc’s holdings in Element Solutions were worth $14,770,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ESI. Community Bank N.A. acquired a new position in shares of Element Solutions during the 3rd quarter worth approximately $33,000. Aster Capital Management DIFC Ltd purchased a new stake in Element Solutions in the 3rd quarter valued at approximately $41,000. Johnson Financial Group Inc. acquired a new stake in Element Solutions during the 3rd quarter valued at $47,000. Measured Wealth Private Client Group LLC acquired a new stake in Element Solutions during the 3rd quarter valued at $49,000. Finally, Quarry LP increased its position in Element Solutions by 27.3% during the third quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after buying an additional 431 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Trading Up 2.3%

Shares of Element Solutions stock opened at $42.66 on Wednesday. Element Solutions Inc. has a fifty-two week low of $20.95 and a fifty-two week high of $45.51. The business’s fifty day moving average is $38.91 and its two-hundred day moving average is $32.41. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75. The firm has a market cap of $10.39 billion, a PE ratio of 68.80, a P/E/G ratio of 1.45 and a beta of 1.25.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $840.00 million during the quarter, compared to the consensus estimate of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that Element Solutions Inc. will post 1.78 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Element Solutions’s dividend payout ratio is currently 51.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ESI shares. KeyCorp boosted their price target on Element Solutions from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Element Solutions in a research note on Monday, February 23rd. Truist Financial boosted their target price on shares of Element Solutions from $38.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. UBS Group upped their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Seaport Research Partners reaffirmed a “buy” rating and set a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Element Solutions has an average rating of “Buy” and a consensus target price 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.