Adage Capital Partners GP L.L.C. Sells 48,101 Shares of Element Solutions Inc (NYSE:ESI)

Adage Capital Partners GP L.L.C. reduced its holdings in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,386,899 shares of the company's stock after selling 48,101 shares during the period. Adage Capital Partners GP L.L.C. owned 0.57% of Element Solutions worth $35,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP raised its holdings in Element Solutions by 55.8% in the 4th quarter. Dark Forest Capital Management LP now owns 72,168 shares of the company's stock worth $1,835,000 after purchasing an additional 25,842 shares during the period. Hsbc Holdings PLC boosted its stake in shares of Element Solutions by 116.1% in the fourth quarter. Hsbc Holdings PLC now owns 18,817 shares of the company's stock worth $479,000 after acquiring an additional 10,108 shares during the period. Stifel Financial Corp raised its stake in Element Solutions by 171.3% during the 4th quarter. Stifel Financial Corp now owns 26,816 shares of the company's stock valued at $682,000 after purchasing an additional 16,931 shares during the period. OneDigital Investment Advisors LLC boosted its position in shares of Element Solutions by 5.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 15,696 shares of the company's stock worth $399,000 after acquiring an additional 793 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Element Solutions by 393.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,613 shares of the company's stock worth $244,000 after purchasing an additional 7,665 shares during the last quarter. 92.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com lowered Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Bank of America raised Element Solutions from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $29.00 to $24.00 in a report on Tuesday, April 15th. The Goldman Sachs Group reduced their price target on Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and reduced their price target for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. Finally, Barclays decreased their target price on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Element Solutions has an average rating of "Moderate Buy" and a consensus price target of $26.38.

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares of the company's stock, valued at approximately $2,847,510. This represents a 94.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 7.90% of the stock is owned by company insiders.

Element Solutions Price Performance

ESI stock traded down $0.02 on Wednesday, hitting $20.22. 647,617 shares of the company's stock traded hands, compared to its average volume of 1,922,231. The stock has a fifty day moving average of $22.55 and a 200-day moving average of $25.20. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76.

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

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, March 3rd. Element Solutions's dividend payout ratio (DPR) is currently 26.89%.

Element Solutions 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.