Point72 Asset Management L.P. Sells 68,566 Shares of Element Solutions Inc (NYSE:ESI)

Point72 Asset Management L.P. reduced its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,878 shares of the company's stock after selling 68,566 shares during the period. Point72 Asset Management L.P. owned approximately 0.15% of Element Solutions worth $9,693,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC purchased a new stake in shares of Element Solutions in the third quarter worth about $25,000. Quarry LP bought a new stake in Element Solutions during the 2nd quarter worth approximately $31,000. EverSource Wealth Advisors LLC lifted its stake in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company's stock worth $82,000 after purchasing an additional 864 shares in the last quarter. Quest Partners LLC boosted its holdings in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company's stock valued at $88,000 after purchasing an additional 3,212 shares during the period. Finally, Signaturefd LLC grew its position in shares of Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company's stock valued at $100,000 after purchasing an additional 448 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ESI shares. Barclays lifted their price objective on Element Solutions from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Element Solutions to a "strong-buy" rating in a research report on Monday, October 14th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research report on Saturday, November 2nd. BMO Capital Markets increased their price target on shares of Element Solutions from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Wolfe Research raised shares of Element Solutions from a "peer perform" rating to an "outperform" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.

Element Solutions Trading Up 0.6 %

Element Solutions stock traded up $0.17 during mid-day trading on Friday, hitting $27.82. The company's stock had a trading volume of 783,250 shares, compared to its average volume of 1,145,921. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77. The business has a 50 day moving average price of $27.29 and a 200-day moving average price of $26.43. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. Element Solutions Inc has a 12 month low of $20.37 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The company's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. As a group, analysts forecast that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.15%. Element Solutions's dividend payout ratio (DPR) is presently 28.83%.

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.