Cinctive Capital Management LP Buys Shares of 131,949 Element Solutions Inc (NYSE:ESI)

Cinctive Capital Management LP bought a new position in shares of Element Solutions Inc (NYSE:ESI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 131,949 shares of the company's stock, valued at approximately $3,355,000. Cinctive Capital Management LP owned 0.05% of Element Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Element Solutions by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company's stock worth $565,685,000 after acquiring an additional 249,280 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Element Solutions by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company's stock valued at $132,468,000 after purchasing an additional 209,441 shares during the last quarter. State Street Corp raised its position in shares of Element Solutions by 5.6% during the 3rd quarter. State Street Corp now owns 4,319,570 shares of the company's stock worth $117,320,000 after purchasing an additional 230,793 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Element Solutions by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company's stock worth $90,456,000 after purchasing an additional 14,339 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Element Solutions by 80.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company's stock valued at $74,282,000 after purchasing an additional 1,301,602 shares during the period. 92.32% of the stock is currently owned by institutional investors.

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Insider Transactions at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 109,100 shares in the company, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESI. Bank of America reissued a "neutral" rating and set a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Truist Financial started coverage on shares of Element Solutions in a research note on Tuesday, January 28th. They set a "hold" rating and a $28.00 target price for the company. KeyCorp began coverage on shares of Element Solutions in a research note on Thursday, April 3rd. They issued an "overweight" rating and a $29.00 price target on the stock. BMO Capital Markets boosted their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Monday, December 16th. Finally, Barclays lowered their target price on Element Solutions from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Element Solutions Price Performance

ESI traded up $0.35 during trading on Tuesday, reaching $18.74. The stock had a trading volume of 1,277,384 shares, compared to its average volume of 1,749,283. The stock has a 50 day moving average of $25.04 and a two-hundred day moving average of $26.11. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a 1-year low of $16.80 and a 1-year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $598.24 million. As a group, equities analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.08 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. Element Solutions's dividend payout ratio (DPR) is 31.37%.

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.