Comerica Bank Lowers Holdings in Element Solutions Inc (NYSE:ESI)

Comerica Bank lowered its stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,939 shares of the company's stock after selling 37,179 shares during the period. Comerica Bank's holdings in Element Solutions were worth $431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESI. Vanguard Group Inc. raised its stake in Element Solutions by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company's stock valued at $565,685,000 after acquiring an additional 249,280 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Element Solutions by 4.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company's stock worth $132,468,000 after buying an additional 209,441 shares during the period. Geode Capital Management LLC increased its position in Element Solutions by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company's stock worth $90,456,000 after buying an additional 14,339 shares during the period. Locust Wood Capital Advisers LLC increased its position in Element Solutions by 11.4% during the 4th quarter. Locust Wood Capital Advisers LLC now owns 3,174,466 shares of the company's stock worth $80,727,000 after buying an additional 325,297 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Element Solutions by 80.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company's stock worth $74,282,000 after buying an additional 1,301,602 shares during the period. Institutional investors own 92.32% of the company's stock.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This trade represents a 94.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by corporate insiders.

Element Solutions Price Performance

Shares of Element Solutions stock traded up $0.10 during trading on Monday, hitting $22.44. 1,626,477 shares of the stock traded hands, compared to its average volume of 1,961,303. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.30 and a beta of 1.24. The firm's fifty day moving average is $21.48 and its 200-day moving average is $24.76. Element Solutions Inc has a 52 week low of $16.77 and a 52 week high of $29.78.

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

Wall Street Analysts Forecast Growth

ESI has been the topic of several research analyst reports. Bank of America raised Element Solutions from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $29.00 to $24.00 in a research note on Tuesday, April 15th. Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and reduced their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Barclays cut their price target on Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. KeyCorp cut their price target on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group cut their price target on Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Two equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $26.38.

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.