Element Solutions Inc. $ESI Shares Sold by New South Capital Management Inc.

Key Points

• New South Capital Management cut its Element Solutions stake by 32.1% in the third quarter, selling 732,243 shares. It retained 1,547,951 shares, valued at about $56.2 million.
• Analysts maintain a consensus Buy rating, with an average price target of $46.36; four rate the stock Strong Buy, seven Buy, and two Hold.
• Element Solutions topped quarterly earnings and revenue expectations, reporting EPS of $0.50 and revenue of $995.3 million; revenue rose 51.7% year over year.

New South Capital Management Inc. trimmed its position in Element Solutions Inc. (NYSE:ESI - Free Report) by 32.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,547,951 shares of the company's stock after selling 732,243 shares during the quarter. Element Solutions comprises 3.8% of New South Capital Management Inc.'s holdings, making the stock its 8th largest position. New South Capital Management Inc. owned approximately 0.64% of Element Solutions worth $56,160,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ESI. Assetmark Inc. raised its position in Element Solutions by 151.0% during the 1st quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after buying an additional 468 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Element Solutions in the 2nd quarter valued at $27,000. NewEdge Advisors LLC boosted its holdings in shares of Element Solutions by 57.4% in the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock valued at $32,000 after acquiring an additional 346 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Element Solutions by 373.1% in the third quarter. Fortitude Family Office LLC now owns 932 shares of the company's stock worth $34,000 after acquiring an additional 735 shares during the period. Finally, Root Financial Partners LLC acquired a new stake in shares of Element Solutions in the third quarter worth $54,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ESI shares. William Blair set a $48.00 target price on shares of Element Solutions in a report on Friday, August 28th. Wolfe Research set a $47.00 price target on Element Solutions in a research report on Wednesday, July 29th. BMO Capital Markets reaffirmed an "outperform" rating and set a $45.00 price target on shares of Element Solutions in a research report on Monday, September 21st. Mizuho lifted their price objective on Element Solutions from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Thursday, October 22nd. Finally, Barclays decreased their price objective on Element Solutions from $53.00 to $51.00 and set an "overweight" rating for the company in a report on Friday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $46.36.

Element Solutions Price Performance

Shares of Element Solutions stock opened at $34.01 on Thursday. 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 Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The business has a 50-day moving average price of $34.82 and a 200 day moving average price of $36.94. The firm has a market cap of $8.25 billion, a PE ratio of 18.71, a P/E/G ratio of 1.09 and a beta of 1.29.

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

Element Solutions Announces Dividend

The firm also recently announced 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 annualized dividend 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 presently 37.65%.

Element Solutions Company Profile

Element Solutions Inc. is a specialty chemicals company that develops and supplies materials used in electronics manufacturing and a range of industrial processes. Its products support the production of printed circuit boards, semiconductors and electronic assemblies, as well as metal plating, surface finishing and other applications. The company's products help customers treat, protect and enhance surfaces and materials during manufacturing. Its portfolio includes process chemicals, coatings and related technologies sold under established brands, including MacDermid, Alpha and Enthone.

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