Massachusetts Financial Services Co. MA reduced its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 15.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,978,129 shares of the company's stock after selling 362,308 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.82% of Element Solutions worth $53,726,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ESI. Quarry LP purchased a new stake in Element Solutions during the second quarter worth about $31,000. LRI Investments LLC purchased a new stake in Element Solutions during the first quarter worth about $78,000. EverSource Wealth Advisors LLC increased its stake in Element Solutions by 39.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company's stock worth $82,000 after purchasing an additional 864 shares during the period. Quest Partners LLC increased its stake in Element Solutions by 14,600.0% during the second quarter. Quest Partners LLC now owns 3,234 shares of the company's stock worth $88,000 after purchasing an additional 3,212 shares during the period. Finally, Signaturefd LLC increased its stake in Element Solutions by 13.8% during the second quarter. Signaturefd LLC now owns 3,683 shares of the company's stock worth $100,000 after purchasing an additional 448 shares during the period. 92.32% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of Element Solutions to a "strong-buy" rating in a research note on Monday, October 14th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research note on Saturday, November 2nd. Wolfe Research upgraded shares of Element Solutions from a "peer perform" rating to an "outperform" rating in a research note on Friday, October 25th. BMO Capital Markets upped their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Barclays upped their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.
View Our Latest Analysis on ESI
Element Solutions Stock Performance
Shares of ESI stock traded up $0.54 during trading hours on Monday, hitting $29.58. The stock had a trading volume of 755,330 shares, compared to its average volume of 1,364,033. The firm has a market capitalization of $7.16 billion, a PE ratio of 26.16, a PEG ratio of 1.60 and a beta of 1.29. Element Solutions Inc has a twelve month low of $20.31 and a twelve month high of $29.67. The stock's 50 day moving average is $26.83 and its 200 day moving average is $26.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77.
Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. The business had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. During the same period in the prior year, the company earned $0.36 earnings per share. The company's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.
Element Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, December 2nd. Element Solutions's payout ratio is 28.83%.
About Element Solutions
(
Free Report)
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.
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