Castleark Management LLC Trims Stock Position in Element Solutions Inc (NYSE:ESI)

Castleark Management LLC decreased its position in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 13.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,280 shares of the company's stock after selling 40,240 shares during the quarter. Castleark Management LLC owned 0.11% of Element Solutions worth $6,543,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in Element Solutions by 96.0% in the 3rd quarter. Barclays PLC now owns 108,174 shares of the company's stock valued at $2,938,000 after purchasing an additional 52,973 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Element Solutions in the 4th quarter valued at approximately $1,947,000. Trust Co. of Vermont purchased a new stake in Element Solutions in the fourth quarter valued at approximately $43,000. UMB Bank n.a. lifted its stake in Element Solutions by 98.8% during the 4th quarter. UMB Bank n.a. now owns 1,910 shares of the company's stock worth $49,000 after acquiring an additional 949 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Element Solutions by 26.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,987 shares of the company's stock worth $661,000 after purchasing an additional 5,431 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Stock Performance

Shares of NYSE ESI opened at $22.17 on Wednesday. The company has a 50-day simple moving average of $21.37 and a 200-day simple moving average of $24.71. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The company has a market cap of $5.38 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a 12 month low of $16.77 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. On average, equities analysts anticipate that Element Solutions Inc will post 1.45 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the transaction, the director now owns 109,100 shares of the company's stock, valued at $2,847,510. This represents a 94.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ESI has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and decreased their price target for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and dropped their target price for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Finally, KeyCorp dropped their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $26.38.

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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