Gabelli Funds LLC bought a new stake in Element Solutions Inc (NYSE:ESI) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 190,000 shares of the company’s stock, valued at approximately $1,934,000. Gabelli Funds LLC owned about 0.07% 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 ESI. Vanguard Group Inc. acquired a new position in shares of Element Solutions during the 2nd quarter worth approximately $258,433,000. BlackRock Inc. acquired a new position in shares of Element Solutions during the 2nd quarter worth approximately $171,908,000. Bares Capital Management Inc. acquired a new position in shares of Element Solutions during the 2nd quarter worth approximately $169,281,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Element Solutions during the 2nd quarter worth approximately $152,598,000. Finally, Nomura Holdings Inc. acquired a new position in shares of Element Solutions during the 2nd quarter worth approximately $50,586,000. 87.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of ESI stock traded up $0.32 during trading on Friday, reaching $11.73. 4,582,488 shares of the company’s stock were exchanged, compared to its average volume of 2,412,126. The company has a quick ratio of 2.14, a current ratio of 2.74 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $2.92 billion, a PE ratio of 83.79 and a beta of 2.13. Element Solutions Inc has a twelve month low of $8.55 and a twelve month high of $12.74. The firm’s fifty day moving average price is $10.40 and its 200-day moving average price is $10.17.
Element Solutions (NYSE:ESI) last posted its earnings results on Thursday, November 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The business had revenue of $464.70 million for the quarter, compared to analyst estimates of $469.25 million. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. As a group, analysts anticipate that Element Solutions Inc will post 0.84 EPS for the current fiscal year.
Several research firms have weighed in on ESI. SunTrust Banks lowered their price target on Element Solutions from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Zacks Investment Research lowered Element Solutions from a “hold” rating to a “sell” rating and set a $10.00 price target on the stock. in a research report on Thursday, October 10th. ValuEngine lowered Element Solutions from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Barclays reaffirmed a “hold” rating and set a $11.00 price target on shares of Element Solutions in a research report on Wednesday, August 7th. Finally, CIBC reaffirmed an “average” rating and set a $5.00 price target on shares of Element Solutions in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $8.42.
In other Element Solutions news, COO Scot Benson bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $9.37 per share, with a total value of $93,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.30% of the stock is currently owned by insiders.
Element Solutions Company 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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