Adage Capital Partners GP L.L.C. Has $35.27 Million Stock Position in Element Solutions Inc (NYSE:ESI)

Adage Capital Partners GP L.L.C. trimmed its position in Element Solutions Inc (NYSE:ESI - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,386,899 shares of the company's stock after selling 48,101 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.57% of Element Solutions worth $35,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ESI. TD Private Client Wealth LLC bought a new stake in Element Solutions in the 4th quarter valued at approximately $27,000. First Horizon Advisors Inc. grew its stake in shares of Element Solutions by 610.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock worth $29,000 after acquiring an additional 971 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Element Solutions in the fourth quarter valued at approximately $43,000. Parkside Financial Bank & Trust bought a new stake in shares of Element Solutions in the fourth quarter worth $48,000. Finally, UMB Bank n.a. boosted its holdings in Element Solutions by 98.8% during the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company's stock worth $49,000 after purchasing an additional 949 shares during the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Performance

Shares of NYSE:ESI traded down $0.13 on Monday, hitting $20.07. The company had a trading volume of 1,714,043 shares, compared to its average volume of 1,928,100. The stock has a 50 day moving average price of $22.84 and a 200 day moving average price of $25.28. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The firm had revenue of $593.70 million for the quarter, compared to analysts' expectations of $576.73 million. During the same period in the prior year, the firm earned $0.34 EPS. The business's revenue was up 3.3% on a year-over-year basis. Analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.08 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.59%. Element Solutions's payout ratio is presently 26.89%.

Insider Activity at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares of the company's stock, valued at $2,847,510. The trade was a 94.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ESI has been the topic of several recent research reports. KeyCorp cut their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Bank of America upgraded Element Solutions from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $29.00 to $24.00 in a report on Tuesday, April 15th. Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and reduced their price target for the company from $28.00 to $24.00 in a research report on Monday, April 14th. Barclays lowered their price target on Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, BMO Capital Markets cut their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $26.38.

Element Solutions Company 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.