Element Solutions Inc (NYSE:ESI) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in Element Solutions Inc (NYSE:ESI - Free Report) by 28.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 112,432 shares of the company's stock after selling 43,887 shares during the quarter. Wedge Capital Management L L P NC's holdings in Element Solutions were worth $3,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Element Solutions in the second quarter valued at $1,518,000. Capital World Investors purchased a new stake in shares of Element Solutions in the first quarter worth about $44,527,000. Cubist Systematic Strategies LLC acquired a new stake in Element Solutions during the second quarter worth about $5,668,000. Blue Trust Inc. purchased a new position in Element Solutions during the second quarter valued at approximately $613,000. Finally, Principal Financial Group Inc. raised its position in Element Solutions by 243.1% during the first quarter. Principal Financial Group Inc. now owns 101,819 shares of the company's stock valued at $2,543,000 after acquiring an additional 72,145 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Wall Street Analyst Weigh In

ESI has been the topic of several recent research reports. StockNews.com upgraded Element Solutions from a "hold" rating to a "buy" rating in a research report on Tuesday, September 24th. UBS Group increased their price target on shares of Element Solutions from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Monday, June 24th. Seaport Res Ptn raised shares of Element Solutions to a "strong-buy" rating in a report on Monday. Finally, The Goldman Sachs Group upped their price objective on shares of Element Solutions from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Element Solutions Price Performance

NYSE:ESI traded down $0.18 during trading hours on Wednesday, reaching $25.50. 1,109,154 shares of the company were exchanged, compared to its average volume of 1,336,884. The stock's 50-day moving average is $25.82 and its 200-day moving average is $25.49. Element Solutions Inc has a twelve month low of $17.57 and a twelve month high of $28.68. The firm has a market cap of $6.17 billion, a PE ratio of 47.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. The company has a current ratio of 3.50, a quick ratio of 2.60 and a debt-to-equity ratio of 0.80.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $606.95 million. During the same period last year, the company posted $0.31 EPS. Element Solutions's quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions's dividend payout ratio is currently 59.26%.

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.