Truist Financial Corp Sells 42,266 Shares of Element Solutions Inc (NYSE:ESI)

Truist Financial Corp trimmed its stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 20.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,552 shares of the company's stock after selling 42,266 shares during the period. Truist Financial Corp owned approximately 0.07% of Element Solutions worth $4,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ESI. Point72 Asset Management L.P. boosted its stake in shares of Element Solutions by 124.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 425,444 shares of the company's stock valued at $11,538,000 after purchasing an additional 235,668 shares during the last quarter. Quarry LP acquired a new stake in Element Solutions during the 2nd quarter worth $31,000. Creative Planning raised its position in shares of Element Solutions by 24.0% during the 2nd quarter. Creative Planning now owns 15,580 shares of the company's stock valued at $423,000 after acquiring an additional 3,020 shares during the last quarter. Algert Global LLC acquired a new position in shares of Element Solutions in the 2nd quarter valued at $628,000. Finally, Driehaus Capital Management LLC bought a new position in shares of Element Solutions in the 2nd quarter worth $32,364,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Stock Performance

Shares of ESI stock traded up $0.07 during trading on Tuesday, reaching $25.68. 1,097,578 shares of the company's stock were exchanged, compared to its average volume of 1,348,540. The firm's fifty day moving average price is $25.79 and its 200-day moving average price is $25.45. Element Solutions Inc has a twelve month low of $17.57 and a twelve month high of $28.68. The stock has a market capitalization of $6.22 billion, a PE ratio of 47.69, a PEG ratio of 1.43 and a beta of 1.29. The company has a quick ratio of 2.60, a current ratio of 3.50 and a debt-to-equity ratio of 0.80.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The firm had revenue of $613.00 million during the quarter, compared to the consensus estimate of $606.95 million. During the same period last year, the business posted $0.31 earnings per share. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.08 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a yield of 1.25%. Element Solutions's dividend payout ratio is presently 59.26%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ESI shares. The Goldman Sachs Group increased their price target on shares of Element Solutions from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Thursday, June 27th. BMO Capital Markets reissued an "outperform" rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a report on Wednesday, June 12th. UBS Group increased their price target on Element Solutions from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 24th. StockNews.com upgraded Element Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 24th. Finally, Mizuho raised their target price on shares of Element Solutions from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $29.40.

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.