Cubist Systematic Strategies LLC Sells 391,458 Shares of Element Solutions Inc (NYSE:ESI)

Cubist Systematic Strategies LLC reduced its position in Element Solutions Inc (NYSE:ESI - Free Report) by 70.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 165,014 shares of the company's stock after selling 391,458 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of Element Solutions worth $4,196,000 as of its most recent SEC filing.

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

Element Solutions Price Performance

NYSE:ESI traded down $0.19 during mid-day trading on Thursday, reaching $22.11. The stock had a trading volume of 306,324 shares, compared to its average volume of 1,955,807. The firm has a 50 day moving average price of $21.61 and a two-hundred day moving average price of $24.87. The stock has a market capitalization of $5.36 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a one year low of $16.77 and a one year high of $29.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34.

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

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business'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 value of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares in the company, valued at $2,847,510. The trade was a 94.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ESI has been the subject of a number of recent analyst reports. Bank of America raised Element Solutions from a "neutral" rating to a "buy" rating and reduced their target price for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. The Goldman Sachs Group reduced their target price on Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Barclays reduced their target price on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, April 28th. BMO Capital Markets reduced their target price on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and cut their price objective for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Element Solutions currently has an average rating of "Moderate Buy" and a consensus target price of $26.38.

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.