Edgestream Partners L.P. Takes $3.30 Million Position in Element Solutions Inc. $ESI

Edgestream Partners L.P. acquired a new stake in shares of Element Solutions Inc. (NYSE:ESI) during the second quarter, HoldingsChannel reports. The firm acquired 145,817 shares of the company’s stock, valued at approximately $3,303,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lido Advisors LLC acquired a new position in Element Solutions during the 2nd quarter valued at about $375,000. Schroder Investment Management Group lifted its stake in shares of Element Solutions by 8.7% in the 2nd quarter. Schroder Investment Management Group now owns 681,975 shares of the company’s stock worth $15,542,000 after acquiring an additional 54,801 shares during the period. Ceredex Value Advisors LLC boosted its holdings in shares of Element Solutions by 2.3% in the second quarter. Ceredex Value Advisors LLC now owns 655,150 shares of the company’s stock valued at $14,839,000 after acquiring an additional 14,950 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Element Solutions during the second quarter valued at approximately $1,965,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Element Solutions by 0.3% during the second quarter. State Board of Administration of Florida Retirement System now owns 218,152 shares of the company’s stock valued at $4,941,000 after acquiring an additional 740 shares during the period. Institutional investors own 92.32% of the company’s stock.

Insider Activity

In other news, EVP Carey J. Dorman sold 40,725 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the completion of the sale, the executive vice president owned 214,837 shares of the company’s stock, valued at $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Matthew Liebowitz sold 50,000 shares of Element Solutions stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total value 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 460,399 shares of company stock worth $12,376,561. Company insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Element Solutions from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. BMO Capital Markets raised their target price on Element Solutions from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Fermium Researc raised Element Solutions to a “strong-buy” rating in a report on Wednesday, September 17th. Mizuho dropped their price target on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Finally, KeyCorp raised their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Element Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Element Solutions Trading Up 1.8%

NYSE:ESI opened at $25.98 on Thursday. The stock has a fifty day simple moving average of $25.90 and a 200 day simple moving average of $24.58. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.28 and a beta of 1.33. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $28.27. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 earnings per share (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 firm had revenue of $656.10 million for the quarter, compared to the consensus estimate of $645.13 million. During the same quarter in the previous year, the company earned $0.39 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, December 1st. Element Solutions’s dividend payout ratio is 32.32%.

About Element Solutions

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.