Comerica Bank Sells 37,179 Shares of Element Solutions Inc (NYSE:ESI)

Comerica Bank lowered its position 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 Form 13F filing with the SEC. The fund owned 16,939 shares of the company's stock after selling 37,179 shares during the quarter. Comerica Bank's holdings in Element Solutions were worth $431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ESI. Barclays PLC boosted its holdings in shares of Element Solutions by 96.0% in the 3rd quarter. Barclays PLC now owns 108,174 shares of the company's stock valued at $2,938,000 after purchasing an additional 52,973 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Element Solutions in the 4th quarter valued at $1,947,000. Park Avenue Securities LLC boosted its holdings in shares of Element Solutions by 79.0% in the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company's stock valued at $1,541,000 after purchasing an additional 26,753 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of Element Solutions in the 4th quarter valued at $43,000. Finally, UMB Bank n.a. boosted 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 valued at $49,000 after purchasing an additional 949 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Insider Buying and Selling at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the 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 in the company, valued at approximately $2,847,510. This represents a 94.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.90% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ESI shares. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their target price on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. BMO Capital Markets reduced their target price on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group reduced their target price on shares of Element Solutions from $31.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Truist Financial upgraded shares of Element Solutions from a "hold" rating to a "buy" rating and reduced their target price for the company from $28.00 to $24.00 in a report on Monday, April 14th. 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's stock. Based on data from MarketBeat.com, Element Solutions currently has an average rating of "Moderate Buy" and an average target price of $26.38.

Element Solutions Trading Down 1.7%

Shares of ESI stock traded down $0.37 during trading hours on Wednesday, reaching $21.81. 31,281 shares of the stock traded hands, compared to its average volume of 1,954,805. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78. The business has a fifty day moving average price of $21.37 and a 200 day moving average price of $24.71. 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 firm has a market capitalization of $5.29 billion, a PE ratio of 21.39, a PEG ratio of 2.30 and a beta of 1.24.

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 (EPS) 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 analyst estimates of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The firm's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current year.

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.