Truist Financial Corp Buys 6,090 Shares of Element Solutions Inc (NYSE:ESI)

Truist Financial Corp grew its holdings in shares of Element Solutions Inc (NYSE:ESI) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 201,900 shares of the company’s stock after buying an additional 6,090 shares during the quarter. Truist Financial Corp owned 0.08% of Element Solutions worth $4,672,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ESI. Invesco Ltd. grew its stake in shares of Element Solutions by 47.2% during the third quarter. Invesco Ltd. now owns 4,403,980 shares of the company’s stock valued at $86,362,000 after buying an additional 1,412,706 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Element Solutions by 4.8% during the third quarter. Vanguard Group Inc. now owns 22,719,174 shares of the company’s stock valued at $445,523,000 after buying an additional 1,035,756 shares during the last quarter. FMR LLC grew its stake in shares of Element Solutions by 4.3% during the third quarter. FMR LLC now owns 19,232,761 shares of the company’s stock valued at $377,154,000 after buying an additional 798,662 shares during the last quarter. Albar Capital Ltd bought a new position in shares of Element Solutions during the third quarter valued at approximately $7,812,000. Finally, Locust Wood Capital Advisers LLC grew its stake in shares of Element Solutions by 11.9% during the third quarter. Locust Wood Capital Advisers LLC now owns 2,550,246 shares of the company’s stock valued at $50,010,000 after buying an additional 270,984 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Element Solutions from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Barclays boosted their price target on Element Solutions from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, February 26th. Mizuho boosted their price target on Element Solutions from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. UBS Group boosted their price target on Element Solutions from $24.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Element Solutions Stock Up 0.9 %

Shares of NYSE ESI opened at $23.82 on Monday. The company has a current ratio of 3.63, a quick ratio of 2.43 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.77 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.32. The stock’s fifty day simple moving average is $24.20 and its two-hundred day simple moving average is $22.44. Element Solutions Inc has a 12-month low of $17.53 and a 12-month high of $25.81.

Element Solutions (NYSE:ESI) last announced its earnings results on Monday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $575.00 million for the quarter, compared to analysts’ expectations of $588.17 million. Element Solutions had a return on equity of 13.96% and a net margin of 5.62%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. As a group, analysts expect that Element Solutions Inc will post 1.39 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.32 annualized dividend and a yield of 1.34%. Element Solutions’s dividend payout ratio (DPR) is presently 59.26%.

Insider Transactions at Element Solutions

In other news, CEO Benjamin Gliklich sold 61,667 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $23.20, for a total value of $1,430,674.40. Following the completion of the sale, the chief executive officer now owns 704,395 shares of the company’s stock, valued at approximately $16,341,964. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Carey J. Dorman sold 14,774 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $23.20, for a total value of $342,756.80. Following the completion of the sale, the chief financial officer now owns 171,551 shares of the company’s stock, valued at approximately $3,979,983.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Benjamin Gliklich sold 61,667 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $23.20, for a total value of $1,430,674.40. Following the completion of the sale, the chief executive officer now directly owns 704,395 shares of the company’s stock, valued at approximately $16,341,964. The disclosure for this sale can be found here. Insiders sold 97,203 shares of company stock valued at $2,255,110 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

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.