Element Solutions Inc. $ESI Shares Sold by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue cut its Element Solutions stake by 41.4% in the third quarter, selling 35,722 shares and retaining 50,565 shares worth approximately $1.83 million.
• Institutional ownership remains substantial at 92.32%, with major investors including BlackRock, Bank of New York Mellon, Bank of America, and Jennison Associates holding or acquiring positions.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and a $46.18 target price; the company also exceeded quarterly EPS and revenue expectations and pays a $0.08 quarterly dividend.

State of Alaska Department of Revenue lessened its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 41.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,565 shares of the company's stock after selling 35,722 shares during the quarter. State of Alaska Department of Revenue's holdings in Element Solutions were worth $1,834,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Element Solutions during the second quarter worth approximately $1,317,663,000. Bank of New York Mellon Corp bought a new stake in shares of Element Solutions during the second quarter valued at approximately $110,892,000. Bank of America Corp DE acquired a new stake in shares of Element Solutions in the second quarter valued at approximately $47,689,000. Troluce Capital Advisors LLC acquired a new stake in shares of Element Solutions in the first quarter valued at approximately $27,667,000. Finally, Jennison Associates LLC increased its holdings in shares of Element Solutions by 36.7% in the first quarter. Jennison Associates LLC now owns 2,977,958 shares of the company's stock valued at $101,667,000 after purchasing an additional 798,923 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Bank of America started coverage on shares of Element Solutions in a research report on Tuesday, September 1st. They issued a "buy" rating and a $42.00 price objective for the company. Wolfe Research set a $47.00 price objective on Element Solutions in a research report on Wednesday, July 29th. Freedom Capital upgraded Element Solutions from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 28th. BMO Capital Markets reissued an "outperform" rating and issued a $45.00 target price on shares of Element Solutions in a research note on Monday, September 21st. Finally, Jefferies Financial Group initiated coverage on Element Solutions in a research report on Wednesday, September 2nd. They set a "buy" rating and a $55.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $46.18.

Element Solutions Stock Performance

Shares of NYSE:ESI opened at $34.95 on Monday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. Element Solutions Inc. has a 1-year low of $22.86 and a 1-year high of $49.25. The stock has a market capitalization of $8.52 billion, a P/E ratio of 47.23, a P/E/G ratio of 1.30 and a beta of 1.26. The business has a 50-day moving average price of $35.76 and a two-hundred day moving average price of $38.88.

Element Solutions (NYSE:ESI - Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.04. The company had revenue of $977.90 million for the quarter, compared to analyst estimates of $873.19 million. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The company's revenue for the quarter was up 56.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. Equities analysts predict that Element Solutions Inc. will post 1.81 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, September 1st. Element Solutions's dividend payout ratio is currently 43.24%.

About Element Solutions

Element Solutions Inc NYSE: ESI is a specialty chemicals company that develops and manufactures products used in electronics, industrial processes, and other specialized applications. Its materials and process solutions are designed to improve manufacturing performance, product reliability, and surface protection across a range of end markets.

The company's Electronics segment supplies chemicals, materials, and equipment used in printed circuit board fabrication, semiconductor packaging, and other electronic component manufacturing.

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