Kornitzer Capital Management Inc. KS reduced its stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 26.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,500 shares of the company's stock after selling 40,000 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Element Solutions were worth $2,947,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Advisor Resource Council acquired a new position in Element Solutions during the 3rd quarter worth $390,000. Forte Capital LLC ADV boosted its holdings in shares of Element Solutions by 38.0% in the 3rd quarter. Forte Capital LLC ADV now owns 11,970 shares of the company's stock valued at $325,000 after buying an additional 3,295 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Element Solutions by 8.7% in the 3rd quarter. QRG Capital Management Inc. now owns 12,377 shares of the company's stock valued at $336,000 after buying an additional 988 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Element Solutions by 107.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 105,745 shares of the company's stock valued at $2,872,000 after buying an additional 54,686 shares during the period. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of Element Solutions by 51.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 559,106 shares of the company's stock valued at $15,185,000 after buying an additional 190,350 shares during the period. 92.32% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Seaport Res Ptn raised shares of Element Solutions to a "strong-buy" rating in a report on Monday, October 14th. BMO Capital Markets lifted their price target on shares of Element Solutions from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Element Solutions from a "peer perform" rating to an "outperform" rating in a report on Friday, October 25th. Finally, Barclays boosted their target price on shares of Element Solutions from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Two investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.00.
Read Our Latest Research Report on ESI
Element Solutions Price Performance
Shares of NYSE ESI traded down $0.26 during midday trading on Friday, reaching $28.57. The company's stock had a trading volume of 1,015,678 shares, compared to its average volume of 1,375,239. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $26.23 and a 200 day moving average price of $25.73. Element Solutions Inc has a one year low of $18.85 and a one year high of $29.16. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29.
Element Solutions (NYSE:ESI - Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $626.52 million. During the same period in the previous year, the firm earned $0.36 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts expect that Element Solutions Inc will post 1.44 EPS for the current year.
Element Solutions Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions's dividend payout ratio (DPR) is currently 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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