Element Solutions Inc (NYSE:ESI) Holdings Cut by Bank of America Corp DE

Bank of America Corp DE lowered its position in Element Solutions Inc (NYSE:ESI - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 882,600 shares of the company's stock after selling 137,232 shares during the quarter. Bank of America Corp DE owned about 0.36% of Element Solutions worth $22,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ESI. Barclays PLC increased its stake in shares of Element Solutions by 96.0% in the third 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 period. Assenagon Asset Management S.A. acquired a new stake in shares of Element Solutions in the fourth quarter valued at approximately $1,947,000. Park Avenue Securities LLC increased its stake in shares of Element Solutions by 79.0% in the fourth quarter. Park Avenue Securities LLC now owns 60,612 shares of the company's stock valued at $1,541,000 after purchasing an additional 26,753 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Element Solutions in the fourth quarter valued at approximately $43,000. Finally, UMB Bank n.a. increased its stake in shares of Element Solutions by 98.8% in the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company's stock valued at $49,000 after purchasing an additional 949 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value 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 approximately $2,847,510. This trade represents a 94.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.90% of the stock is currently owned by company insiders.

Element Solutions Trading Up 1.1%

Element Solutions stock opened at $22.36 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a 1 year low of $16.77 and a 1 year high of $29.78. The firm's 50 day moving average price is $21.48 and its two-hundred day moving average price is $24.76.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. On average, research analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on ESI. The Goldman Sachs Group dropped their price target on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. UBS Group lowered their price objective on shares of Element Solutions from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. KeyCorp lowered their price objective on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $26.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.