Element Solutions Inc (NYSE:ESI) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,688,671 shares of the company's stock after selling 1,517,307 shares during the period. T. Rowe Price Investment Management Inc. owned about 4.00% of Element Solutions worth $246,383,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC bought a new position in Element Solutions in the 4th quarter worth about $27,000. First Horizon Advisors Inc. grew its stake in Element Solutions by 610.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock worth $29,000 after purchasing an additional 971 shares in the last quarter. Trust Co. of Vermont purchased a new position in Element Solutions during the 4th quarter worth $43,000. Parkside Financial Bank & Trust bought a new stake in Element Solutions during the 4th quarter valued at $48,000. Finally, UMB Bank n.a. lifted its holdings in shares of Element Solutions by 98.8% in the 4th quarter. UMB Bank n.a. now owns 1,910 shares of the company's stock worth $49,000 after buying an additional 949 shares during the period. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Stock Down 0.6 %

Shares of ESI stock traded down $0.13 during trading hours on Monday, reaching $20.07. 1,714,043 shares of the company's stock were exchanged, compared to its average volume of 1,928,100. Element Solutions Inc has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The stock's 50 day moving average is $22.84 and its 200-day moving average is $25.28. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The company had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the prior year, the company posted $0.34 EPS. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions's payout ratio is currently 26.89%.

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 on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday. KeyCorp reduced their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $29.00 to $24.00 in a research note on Tuesday, April 15th. Barclays reduced their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and dropped their target price for the company from $28.00 to $24.00 in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.38.

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.