Parkside Investments LLC Cuts Position in Element Solutions Inc (NYSE:ESI)

Parkside Investments LLC decreased its holdings in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 15.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 334,425 shares of the company's stock after selling 60,197 shares during the period. Parkside Investments LLC owned 0.14% of Element Solutions worth $7,561,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. TD Private Client Wealth LLC bought a new position in Element Solutions in the fourth quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Element Solutions in the 4th quarter valued at $28,000. First Horizon Advisors Inc. raised its position in shares of Element Solutions by 610.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock worth $29,000 after acquiring an additional 971 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Element Solutions in the 4th quarter worth $48,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Element Solutions during the 4th quarter worth $68,000. Institutional investors own 92.32% of the company's stock.

Insider Activity

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction 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 sale, the director now directly owns 109,100 shares of the company's stock, valued at approximately $2,847,510. This represents a 94.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

ESI has been the topic of several analyst reports. The Goldman Sachs Group cut their target price on Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and cut their price objective for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. KeyCorp decreased their target price on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barclays lowered their target price on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, BMO Capital Markets reduced their price target on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Element Solutions Stock Performance

ESI stock traded down $0.65 during midday trading on Friday, reaching $20.99. The stock had a trading volume of 1,509,765 shares, compared to its average volume of 1,951,715. The firm has a fifty day simple moving average of $20.71 and a two-hundred day simple moving average of $23.89. Element Solutions Inc has a 52-week low of $16.77 and a 52-week high of $29.78. 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 stock has a market cap of $5.09 billion, a PE ratio of 20.58, a P/E/G ratio of 2.30 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 2nd. Element Solutions's payout ratio is 26.89%.

About Element Solutions

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.