Kornitzer Capital Management Inc. KS reduced its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,800 shares of the company's stock after selling 11,700 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Element Solutions were worth $2,189,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in ESI. Integrated Wealth Concepts LLC lifted its holdings in shares of Element Solutions by 1.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company's stock valued at $610,000 after buying an additional 423 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Element Solutions by 4.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company's stock valued at $287,000 after buying an additional 430 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Element Solutions by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company's stock valued at $2,502,000 after buying an additional 610 shares during the period. KBC Group NV lifted its holdings in shares of Element Solutions by 7.1% in the first quarter. KBC Group NV now owns 10,319 shares of the company's stock valued at $233,000 after buying an additional 681 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Element Solutions by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company's stock valued at $169,000 after buying an additional 684 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.
Element Solutions Stock Up 0.1%
ESI stock traded up $0.03 during mid-day trading on Friday, hitting $24.72. The stock had a trading volume of 1,834,069 shares, compared to its average volume of 2,038,053. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a fifty day moving average of $22.58 and a 200 day moving average of $23.28. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.79 and a beta of 1.23.
Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The business 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 14.42% and a net margin of 11.56%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. On average, equities analysts expect that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.
Element Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.29%. Element Solutions's dividend payout ratio is currently 26.89%.
Analysts Set New Price Targets
ESI has been the subject of several research analyst reports. Barclays cut their price objective on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $27.00 target price (up from $24.00) on shares of Element Solutions in a report on Tuesday. BMO Capital Markets reduced their target price on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 25th. UBS Group upped their target price on Element Solutions from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Finally, Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and reduced their target price for the company from $28.00 to $24.00 in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Element Solutions has an average rating of "Moderate Buy" and a consensus target price of $27.13.
Get Our Latest Stock Analysis on Element Solutions
About Element Solutions
(
Free Report)
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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