Bessemer Group Inc. Cuts Stock Holdings in Element Solutions Inc (NYSE:ESI)

Bessemer Group Inc. cut its holdings in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 895,442 shares of the company's stock after selling 103,911 shares during the period. Bessemer Group Inc. owned 0.37% of Element Solutions worth $22,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ESI. FIL Ltd purchased a new stake in Element Solutions during the 4th quarter worth approximately $29,818,000. Bank of Montreal Can increased its position in shares of Element Solutions by 6.3% in the 4th quarter. Bank of Montreal Can now owns 22,843 shares of the company's stock valued at $581,000 after acquiring an additional 1,362 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of Element Solutions in the 4th quarter valued at $207,000. Aster Capital Management DIFC Ltd purchased a new position in Element Solutions in the 4th quarter worth $68,000. Finally, Envestnet Asset Management Inc. grew its stake in Element Solutions by 39.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 976,974 shares of the company's stock valued at $24,844,000 after purchasing an additional 277,873 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Insider Buying and Selling at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares in the company, valued at approximately $2,847,510. This represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.90% of the stock is owned by insiders.

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Element Solutions Price Performance

NYSE ESI traded up $0.61 on Monday, hitting $18.86. The company had a trading volume of 3,524,214 shares, compared to its average volume of 1,819,482. The company has a market capitalization of $4.57 billion, a PE ratio of 18.49, a PEG ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a 12-month low of $16.77 and a 12-month high of $29.78. The company's fifty day moving average price is $24.18 and its 200-day moving average price is $25.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $624.20 million for the quarter, compared to analysts' expectations of $598.24 million. As a group, analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.70%. Element Solutions's dividend payout ratio (DPR) is presently 31.37%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESI. KeyCorp reduced their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price objective (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Barclays reduced their target price on shares of Element Solutions from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and cut their price target for the stock from $28.00 to $24.00 in a research report on Monday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.38.

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.