Oppenheimer Asset Management Inc. Raises Stock Holdings in Element Solutions Inc. $ESI

Oppenheimer Asset Management Inc. boosted its position in Element Solutions Inc. (NYSE:ESI) by 6.4% in the second quarter, Holdings Channel.com reports. The firm owned 64,418 shares of the company’s stock after buying an additional 3,888 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Element Solutions were worth $1,459,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. KBC Group NV grew its position in shares of Element Solutions by 7.1% in the 1st quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after buying an additional 681 shares during the period. Amalgamated Bank grew its holdings in Element Solutions by 479.7% in the first quarter. Amalgamated Bank now owns 67,594 shares of the company’s stock worth $1,528,000 after purchasing an additional 55,933 shares during the period. New York State Teachers Retirement System grew its holdings in Element Solutions by 1,961.2% in the first quarter. New York State Teachers Retirement System now owns 70,328 shares of the company’s stock worth $1,590,000 after purchasing an additional 66,916 shares during the period. Aaron Wealth Advisors LLC bought a new position in shares of Element Solutions during the first quarter valued at approximately $261,000. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Element Solutions during the first quarter valued at approximately $1,153,000. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Down 1.8%

ESI stock opened at $25.96 on Friday. The stock has a market capitalization of $6.27 billion, a P/E ratio of 26.22, a P/E/G ratio of 1.74 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.30. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The business has a fifty day moving average price of $25.89 and a 200-day moving average price of $23.62.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Element Solutions had a return on equity of 14.01% and a net margin of 9.58%.The company had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. During the same period last year, the company earned $0.39 EPS. Element Solutions’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions’s payout ratio is presently 32.00%.

Insider Activity

In related news, EVP Matthew Liebowitz sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the transaction, the executive vice president owned 57,353 shares in the company, valued at $1,522,722.15. This represents a 46.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carey J. Dorman sold 40,725 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the completion of the sale, the executive vice president owned 214,837 shares in the company, valued at $5,727,554.42. This represents a 15.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 168,399 shares of company stock valued at $4,492,561 over the last three months. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ESI shares. Mizuho set a $30.00 price target on Element Solutions in a research note on Wednesday. Fermium Researc raised Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. The Goldman Sachs Group reissued a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. UBS Group lifted their price target on Element Solutions from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Truist Financial increased their price objective on shares of Element Solutions from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

Element Solutions Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.