Gamco Investors INC. ET AL Acquires New Position in Element Solutions Inc (NYSE:ESI)
Gamco Investors INC. ET AL acquired a new stake in Element Solutions Inc (NYSE:ESI) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 195,000 shares of the company’s stock, valued at approximately $1,985,000. Gamco Investors INC. ET AL owned 0.08% of Element Solutions as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina raised its stake in Element Solutions by 4.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 103,345 shares of the company’s stock valued at $1,069,000 after acquiring an additional 4,380 shares during the period. Kings Point Capital Management purchased a new position in Element Solutions during the 2nd quarter valued at about $46,000. NEXT Financial Group Inc purchased a new position in Element Solutions during the 3rd quarter valued at about $47,000. Pinebridge Investments L.P. purchased a new position in Element Solutions during the 2nd quarter valued at about $79,000. Finally, Symons Capital Management Inc. purchased a new position in Element Solutions during the 2nd quarter valued at about $122,000. Institutional investors and hedge funds own 87.99% of the company’s stock.
A number of research analysts have weighed in on the company. CIBC reaffirmed an “average” rating and set a $5.00 target price on shares of Element Solutions in a report on Tuesday, October 15th. ValuEngine lowered Element Solutions from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Barclays reaffirmed a “hold” rating and set a $11.00 target price on shares of Element Solutions in a report on Wednesday, August 7th. SunTrust Banks reduced their target price on Element Solutions from $11.00 to $10.00 and set a “hold” rating for the company in a report on Friday, October 11th. Finally, Zacks Investment Research lowered Element Solutions from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Element Solutions presently has a consensus rating of “Hold” and an average price target of $8.42.
Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The company had revenue of $464.70 million during the quarter, compared to analyst estimates of $469.25 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Element Solutions’s revenue was down 4.9% on a year-over-year basis. Equities analysts expect that Element Solutions Inc will post 0.84 earnings per share for the current fiscal year.
In other Element Solutions news, COO Scot Benson acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $9.37 per share, with a total value of $93,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 13.30% of the stock is currently owned by insiders.
Element Solutions Profile
Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
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