59,838 Element Solutions Inc. $ESI Shares Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its Element Solutions stake by 64.9% in the third quarter, selling 59,838 shares and retaining 32,330 shares valued at approximately $1.17 million. Institutional investors collectively own 92.32% of the company.
• Element Solutions exceeded quarterly expectations, reporting $0.50 EPS versus the $0.48 estimate and $995.3 million in revenue, up 51.7% year over year.
• The stock opened at $34.10, below analysts’ consensus price target of $46.36. Analysts maintain a consensus “Buy” rating, while the company pays a quarterly dividend of $0.08 per share.

Asset Management One Co. Ltd. lessened its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 64.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,330 shares of the company's stock after selling 59,838 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Element Solutions were worth $1,171,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Arnhold LLC purchased a new position in shares of Element Solutions in the third quarter worth about $17,484,000. Signaturefd LLC lifted its stake in shares of Element Solutions by 103.9% during the 3rd quarter. Signaturefd LLC now owns 6,207 shares of the company's stock valued at $225,000 after buying an additional 3,163 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Element Solutions by 248.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 17,795 shares of the company's stock worth $646,000 after buying an additional 12,691 shares during the period. Iridian Asset Management LLC CT boosted its holdings in Element Solutions by 21.3% in the 3rd quarter. Iridian Asset Management LLC CT now owns 224,053 shares of the company's stock worth $8,129,000 after buying an additional 39,351 shares during the period. Finally, Inspire Investing LLC bought a new position in Element Solutions in the 3rd quarter worth approximately $846,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Trading Down 0.5%

NYSE ESI opened at $34.10 on Tuesday. The stock's 50-day simple moving average is $35.18 and its two-hundred day simple moving average is $36.80. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.20 and a beta of 1.26. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The company has a quick ratio of 2.06, a current ratio of 2.78 and a debt-to-equity ratio of 0.71.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $995.30 million during the quarter, compared to analyst estimates of $964.23 million. Element Solutions had a net margin of 5.87% and a return on equity of 15.45%. The company's revenue was up 51.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Research analysts forecast that Element Solutions Inc. will post 1.85 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions's dividend payout ratio is 37.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ESI. Weiss Ratings raised shares of Element Solutions from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, October 26th. The Goldman Sachs Group assumed coverage on Element Solutions in a report on Friday, September 11th. They issued a "buy" rating and a $44.00 price target for the company. William Blair set a $48.00 price target on Element Solutions in a research report on Friday, August 28th. Jefferies Financial Group started coverage on Element Solutions in a research report on Wednesday, September 2nd. They issued a "buy" rating and a $55.00 price target for the company. Finally, Bank of America initiated coverage on Element Solutions in a research note on Tuesday, September 1st. They set a "buy" rating and a $42.00 price objective on the stock. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $46.36.

Element Solutions Company Profile

Element Solutions Inc NYSE: ESI is a specialty chemicals company that develops and produces materials used in electronics manufacturing and a range of industrial applications. Its products are designed to support processes such as printed circuit board fabrication, semiconductor packaging, electronic assembly, metal finishing, and surface treatment.

Through its electronics-focused businesses, including MacDermid Alpha Solutions, the company supplies solder materials, electronic assembly chemicals, circuit board materials, and semiconductor packaging solutions.

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