Element Solutions Inc. $ESI Shares Sold by Jain Global LLC

Jain Global LLC cut its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 64.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 602,102 shares of the company’s stock after selling 1,085,003 shares during the quarter. Jain Global LLC’s holdings in Element Solutions were worth $15,155,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Element Solutions by 339.3% during the 1st quarter. Millennium Management LLC now owns 446,622 shares of the company’s stock valued at $10,098,000 after buying an additional 344,950 shares during the last quarter. Goldman Sachs Group Inc. increased its stake 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 worth $42,825,000 after buying an additional 712,466 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 acquiring an additional 37,204 shares in the last quarter. Focus Partners Wealth acquired a new stake in Element Solutions in the first quarter valued at $400,000. Finally, PNC Financial Services Group Inc. boosted its stake in Element Solutions by 19.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 16,445 shares of the company’s stock valued at $372,000 after acquiring an additional 2,680 shares during the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ESI has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Element Solutions from $34.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. 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. Wall Street Zen raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Truist Financial lifted their price target on Element Solutions from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a report on Wednesday, January 21st. Two 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $35.75.

Insiders Place Their Bets

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 transaction of $5,099,393.28. Following the sale, the director owned 147,832 shares in the company, valued at $5,250,992.64. This represents a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Element Solutions Stock Performance

Element Solutions stock opened at $31.01 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.68 and a quick ratio of 3.00. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $37.74. The company has a fifty day moving average price of $31.06 and a two-hundred day moving average price of $27.74. The company has a market cap of $7.55 billion, a PE ratio of 39.25, a P/E/G ratio of 1.42 and a beta of 1.23.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. The company had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $632.40 million. During the same period in the prior year, the company earned $0.35 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Element Solutions’s dividend payout ratio is currently 40.51%.

About Element Solutions

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.