Invesco Ltd. Trims Stake in Element Solutions Inc (NYSE:ESI)

Invesco Ltd. reduced its stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,615,037 shares of the company's stock after selling 505,726 shares during the quarter. Invesco Ltd. owned approximately 1.91% of Element Solutions worth $117,360,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in shares of Element Solutions by 6.3% during the fourth quarter. Bank of Montreal Can now owns 22,843 shares of the company's stock valued at $581,000 after buying an additional 1,362 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Element Solutions during the 4th quarter worth approximately $207,000. Aster Capital Management DIFC Ltd bought a new position in shares of Element Solutions in the 4th quarter worth approximately $68,000. Envestnet Asset Management Inc. lifted its stake in shares of Element Solutions by 39.7% in 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 period. Finally, Wells Fargo & Company MN boosted its position in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock valued at $88,000 after purchasing an additional 1,739 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ESI. KeyCorp lowered their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday. UBS Group lowered their price target on shares of Element Solutions from $31.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday. Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $29.00 to $24.00 in a research note on Tuesday. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, Barclays dropped their price target 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.

Remove Ads

Insider Buying and Selling at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of Element Solutions stock in a transaction on Wednesday, March 19th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.90% of the company's stock.

Element Solutions Stock Down 0.8 %

ESI traded down $0.15 during trading on Tuesday, hitting $18.73. 2,761,187 shares of the company's stock traded hands, compared to its average volume of 1,826,164. Element Solutions Inc has a 12-month low of $16.77 and a 12-month high of $29.78. The company's 50 day simple moving average is $23.91 and its two-hundred day simple moving average is $25.68. 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 capitalization of $4.54 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS 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 company had revenue of $624.20 million for the quarter, compared to analysts' expectations of $598.24 million. Analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions's dividend payout ratio (DPR) is presently 31.37%.

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.