Bessemer Group Inc. Sells 98,782 Shares of Element Solutions Inc. (NYSE:ESI)

Bessemer Group Inc. cut its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 796,660 shares of the company's stock after selling 98,782 shares during the period. Bessemer Group Inc. owned approximately 0.33% of Element Solutions worth $18,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESI. TD Private Client Wealth LLC acquired a new stake in shares of Element Solutions during the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new position in Element Solutions during the fourth quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its holdings in Element Solutions by 610.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $29,000 after purchasing an additional 971 shares during the period. Parkside Financial Bank & Trust bought a new position in Element Solutions in the fourth quarter valued at approximately $48,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Element Solutions in the fourth quarter valued at approximately $68,000. 92.32% of the stock is owned by institutional investors.

Element Solutions Price Performance

ESI opened at $23.02 on Friday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.85 and a beta of 1.23. The firm's fifty day moving average price is $21.31 and its two-hundred day moving average price is $23.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.95 and a quick ratio of 3.16. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The business had revenue of $593.70 million for the quarter, compared to the consensus estimate of $576.73 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The company's revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Monday, June 2nd. Element Solutions's dividend payout ratio (DPR) is 26.89%.

Analyst Upgrades and Downgrades

ESI has been the topic of a number of recent analyst reports. UBS Group lowered 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. The Goldman Sachs Group dropped their target price on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. KeyCorp lowered their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Truist Financial upgraded shares of Element Solutions from a "hold" rating to a "buy" rating and lowered their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Two investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $25.75.

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.

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