KLP Kapitalforvaltning AS Buys Shares of 47,000 Element Solutions Inc (NYSE:ESI)

KLP Kapitalforvaltning AS purchased a new stake in Element Solutions Inc (NYSE:ESI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 47,000 shares of the company's stock, valued at approximately $1,195,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ESI. Hillsdale Investment Management Inc. boosted its position in Element Solutions by 4.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 29,800 shares of the company's stock valued at $758,000 after acquiring an additional 1,300 shares in the last quarter. Sei Investments Co. grew its position in Element Solutions by 4.6% during the fourth quarter. Sei Investments Co. now owns 387,799 shares of the company's stock valued at $9,862,000 after buying an additional 17,124 shares during the period. TD Private Client Wealth LLC purchased a new stake in shares of Element Solutions in the fourth quarter valued at approximately $27,000. Magnetar Financial LLC purchased a new stake in shares of Element Solutions during the fourth quarter worth about $258,000. Finally, Xponance Inc. increased its position in shares of Element Solutions by 25.7% during the fourth quarter. Xponance Inc. now owns 10,607 shares of the company's stock worth $270,000 after purchasing an additional 2,168 shares in the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Price Performance

Shares of ESI traded down $0.31 on Monday, reaching $22.61. The stock had a trading volume of 3,223,459 shares, compared to its average volume of 1,698,011. The firm has a 50-day moving average of $25.67 and a 200 day moving average of $26.31. 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 $5.48 billion, a PE ratio of 22.17, a PEG ratio of 2.30 and a beta of 1.29. Element Solutions Inc has a twelve month low of $22.38 and a twelve month high of $29.78.

Remove Ads

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. Sell-side analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid 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 dividend yield of 1.42%. Element Solutions's dividend payout ratio (DPR) is currently 31.37%.

Insider Buying and Selling

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the firm's 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 transaction, the director now owns 109,100 shares of the company's stock, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.90% of the company's stock.

Analyst Upgrades and Downgrades

ESI has been the topic of a number of recent research reports. StockNews.com lowered Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, December 16th. Barclays cut their price target on Element Solutions from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Bank of America reiterated a "neutral" rating and set a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Finally, Truist Financial started coverage on Element Solutions in a research report on Tuesday, January 28th. They set a "hold" rating and a $28.00 price objective for the company. Four 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $30.14.

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.