Allspring Global Investments Holdings LLC Takes $3.55 Million Position in Element Solutions Inc. $ESI

Key Points

• Allspring Global Investments Holdings LLC acquired a new stake of approximately $3.55 million in Element Solutions Inc., purchasing 153,622 shares, which represents a 0.06% ownership of the company.
• Insider selling activity saw two executives, including EVP John Edward Capps, sell a combined 168,399 shares for over $4.49 million, reflecting significant decreases in their holdings.
• Multiple analysts rated Element Solutions with a moderate buy average rating, with target prices increased by firms like Bank of America and UBS Group, forecasting potential upsides for the stock.

Allspring Global Investments Holdings LLC purchased a new stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 153,622 shares of the company's stock, valued at approximately $3,553,000. Allspring Global Investments Holdings LLC owned 0.06% of Element Solutions as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in shares of Element Solutions by 1.2% during the first quarter. Mackenzie Financial Corp now owns 45,210 shares of the company's stock valued at $1,022,000 after acquiring an additional 529 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of Element Solutions by 0.8% during the second quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company's stock valued at $1,722,000 after acquiring an additional 619 shares during the last quarter. KBC Group NV raised its stake in shares of Element Solutions by 7.1% during the first quarter. KBC Group NV now owns 10,319 shares of the company's stock valued at $233,000 after acquiring an additional 681 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Element Solutions by 1.9% during the first quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the company's stock valued at $1,083,000 after acquiring an additional 900 shares during the last quarter. Finally, Xponance Inc. raised its stake in shares of Element Solutions by 8.7% during the first quarter. Xponance Inc. now owns 11,529 shares of the company's stock valued at $261,000 after acquiring an additional 922 shares during the last quarter. Institutional investors own 92.32% of the company's stock.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP John Edward Capps sold 77,674 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the completion of the sale, the executive vice president directly owned 609,790 shares in the company, valued at approximately $16,324,078.30. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carey J. Dorman sold 40,725 shares of Element Solutions stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the completion of the sale, the executive vice president owned 214,837 shares of the company's stock, valued at $5,727,554.42. This represents a 15.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,399 shares of company stock worth $4,492,561. 6.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ESI shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Element Solutions in a research note on Wednesday, October 8th. Bank of America raised their target price on shares of Element Solutions from $29.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. UBS Group raised their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Mizuho raised their target price on shares of Element Solutions from $27.00 to $29.00 and gave the stock an "outperform" rating in a research report on Friday, October 3rd. Finally, Fermium Researc raised shares of Element Solutions to a "strong-buy" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Element Solutions has an average rating of "Moderate Buy" and an average price target of $28.75.

Element Solutions Stock Up 1.6%

NYSE:ESI opened at $26.01 on Tuesday. The firm has a market cap of $6.28 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.69 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The firm has a 50-day simple moving average of $25.72 and a two-hundred day simple moving average of $23.22.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. Element Solutions's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Element Solutions's dividend payout ratio (DPR) is currently 32.00%.

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.

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