Modern Wealth Management LLC Decreases Stock Holdings in Element Solutions Inc. $ESI

Modern Wealth Management LLC lessened its holdings in Element Solutions Inc. (NYSE:ESI) by 33.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,366 shares of the company’s stock after selling 49,999 shares during the quarter. Modern Wealth Management LLC’s holdings in Element Solutions were worth $2,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ESI. Millennium Management LLC lifted its position in shares of Element Solutions by 339.3% during the first quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock worth $10,098,000 after acquiring an additional 344,950 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Element Solutions by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company’s stock valued at $42,825,000 after purchasing an additional 712,466 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 in the last quarter. Focus Partners Wealth bought a new stake in shares of Element Solutions during the 1st quarter valued at $400,000. Finally, First Horizon Advisors Inc. raised its stake in shares of Element Solutions by 710.1% during 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. 92.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ESI has been the subject of several analyst reports. Truist Financial raised their target price on Element Solutions from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Bank of America increased their price target on shares of Element Solutions from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. Mizuho upped their target price on shares of Element Solutions from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $37.00 target price on shares of Element Solutions in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $35.75.

Element Solutions Price Performance

Shares of NYSE ESI opened at $30.77 on Monday. The firm has a market capitalization of $7.49 billion, a P/E ratio of 38.95, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a quick ratio of 3.00, a current ratio of 3.68 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $30.43 and its two-hundred day simple moving average is $27.52. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $37.74.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $676.20 million during the quarter, compared to the consensus estimate of $632.40 million. Element Solutions had a return on equity of 13.79% and a net margin of 7.48%.The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.35 EPS. As a group, equities analysts anticipate 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 will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.0%. Element Solutions’s dividend payout ratio (DPR) is 40.51%.

Insiders Place Their Bets

In other Element Solutions news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $26.60, for a total transaction of $984,200.00. Following the sale, the insider owned 117,393 shares in the company, valued at $3,122,653.80. This trade represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director E Stanley Oneal sold 143,564 shares of Element Solutions stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $35.52, for a total value of $5,099,393.28. Following the sale, the director directly owned 147,832 shares of the company’s stock, valued at approximately $5,250,992.64. This trade represents a 49.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.90% of the company’s stock.

Element Solutions Company Profile

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.