Element Solutions Inc. $ESI Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its position in Element Solutions Inc. (NYSE:ESI) by 72.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,084 shares of the company’s stock after selling 118,392 shares during the period. Truist Financial Corp’s holdings in Element Solutions were worth $1,152,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Community Bank N.A. acquired a new position in shares of Element Solutions in the third quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd acquired a new position in Element Solutions during the third quarter worth approximately $41,000. Johnson Financial Group Inc. acquired a new position in Element Solutions during the third quarter worth approximately $47,000. Measured Wealth Private Client Group LLC acquired a new position in Element Solutions during the third quarter worth approximately $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 purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Trading Down 2.8%

Element Solutions stock opened at $42.34 on Friday. The firm’s 50-day moving average is $36.83 and its 200-day moving average is $31.27. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. Element Solutions Inc. has a 1 year low of $20.80 and a 1 year high of $45.51. The company has a market cap of $10.32 billion, a P/E ratio of 68.30, a PEG ratio of 1.48 and a beta of 1.27.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $840.00 million for the quarter, compared to the consensus estimate of $710.51 million. During the same period last year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. On average, equities analysts expect that Element Solutions Inc. will post 1.78 earnings per share for the current year.

Insider Activity

In related news, Director E Stanley Oneal sold 143,564 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the sale, the director owned 147,832 shares of the company’s stock, valued at $5,250,992.64. This trade represents a 49.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ESI. BMO Capital Markets upped their target price on shares of Element Solutions from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group restated a “neutral” rating and issued a $37.00 target price on shares of Element Solutions in a research note on Monday, February 23rd. KeyCorp upped their target price on shares of Element Solutions from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. Seaport Research Partners restated a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a research note on Tuesday, May 5th. Finally, UBS Group upped their target price on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $39.57.

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.