Polar Asset Management Partners Inc. Raises Position in Element Solutions Inc (NYSE:ESI)

Polar Asset Management Partners Inc. grew its holdings in Element Solutions Inc (NYSE:ESI - Free Report) by 61.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 162,075 shares of the company's stock after purchasing an additional 61,775 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.07% of Element Solutions worth $4,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ESI. JPMorgan Chase & Co. increased its stake in shares of Element Solutions by 80.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company's stock valued at $74,282,000 after purchasing an additional 1,301,602 shares during the last quarter. FIL Ltd bought a new position in shares of Element Solutions in the 4th quarter valued at $29,818,000. London Co. of Virginia bought a new stake in Element Solutions during the 4th quarter worth $29,800,000. Boston Partners bought a new stake in Element Solutions during the 4th quarter worth $24,169,000. Finally, Raymond James Financial Inc. bought a new stake in Element Solutions during the 4th quarter worth $13,573,000. Institutional investors own 92.32% of the company's stock.

Insider Activity at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 109,100 shares in the company, valued at $2,847,510. This represents a 94.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is owned by corporate insiders.

Element Solutions Trading Down 1.7%

ESI traded down $0.37 during midday trading on Wednesday, hitting $21.81. 375,055 shares of the company were exchanged, compared to its average volume of 1,955,878. The firm has a market capitalization of $5.29 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78. The firm's 50 day moving average price is $21.37 and its 200-day moving average price is $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.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping 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 firm had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. During the same period in the previous year, the business earned $0.34 EPS. The business's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ESI. KeyCorp reduced their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. UBS Group reduced their price objective on Element Solutions from $31.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. StockNews.com lowered Element Solutions from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets reduced their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.