Royce & Associates LP Sells 582,164 Shares of Element Solutions Inc. $ESI

Royce & Associates LP decreased its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 30.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,349,457 shares of the company’s stock after selling 582,164 shares during the period. Royce & Associates LP’s holdings in Element Solutions were worth $48,958,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Arnhold LLC bought a new stake in shares of Element Solutions during the third quarter worth about $17,484,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Element Solutions in the 2nd quarter worth about $8,363,000. Man Group plc bought a new position in Element Solutions in the 2nd quarter valued at about $1,422,000. Squarepoint Ops LLC lifted its position in Element Solutions by 50.4% in the 2nd quarter. Squarepoint Ops LLC now owns 224,679 shares of the company’s stock valued at $10,728,000 after acquiring an additional 75,279 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its position in Element Solutions by 671.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 335,149 shares of the company’s stock valued at $16,003,000 after acquiring an additional 291,718 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ESI. Barclays cut their price target on Element Solutions from $53.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, October 23rd. Mizuho increased their price objective on Element Solutions from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Zacks Research raised Element Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. William Blair set a $48.00 target price on Element Solutions in a report on Friday, August 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $45.00 target price on shares of Element Solutions in a research report on Monday, September 21st. Four equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $46.36.

Element Solutions Stock Down 1.0%

ESI stock traded down $0.33 during trading on Friday, reaching $32.99. The stock had a trading volume of 2,265,122 shares, compared to its average volume of 4,457,676. Element Solutions Inc. has a one year low of $22.86 and a one year high of $49.25. The company has a quick ratio of 2.06, a current ratio of 2.78 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $34.76 and its two-hundred day moving average is $36.98. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 1.11 and a beta of 1.29.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $995.30 million for the quarter, compared to analyst estimates of $964.23 million. Element Solutions had a return on equity of 15.45% and a net margin of 5.87%. Element Solutions’s quarterly revenue was up 51.7% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts forecast that Element Solutions Inc. will post 1.85 EPS for the current year.

About Element Solutions

Element Solutions Inc. is a specialty chemicals company that develops and supplies materials used in electronics manufacturing and a range of industrial processes. Its products support the production of printed circuit boards, semiconductors and electronic assemblies, as well as metal plating, surface finishing and other applications. The company’s products help customers treat, protect and enhance surfaces and materials during manufacturing. Its portfolio includes process chemicals, coatings and related technologies sold under established brands, including MacDermid, Alpha and Enthone.