Element Solutions Inc (NYSE:ESI) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,672 shares of the company's stock after selling 241,384 shares during the quarter. Millennium Management LLC's holdings in Element Solutions were worth $2,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC purchased a new position in shares of Element Solutions in the 4th quarter worth approximately $27,000. First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 971 shares during the period. Parkside Financial Bank & Trust purchased a new position in shares of Element Solutions in the 4th quarter worth approximately $48,000. Richardson Financial Services Inc. boosted its holdings in shares of Element Solutions by 77.5% in the 4th quarter. Richardson Financial Services Inc. now owns 2,086 shares of the company's stock worth $53,000 after purchasing an additional 911 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Element Solutions in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Insider Transactions at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares of the company's stock, valued at $2,847,510. This represents a 94.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.90% of the company's stock.

Analysts Set New Price Targets

ESI has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on Element Solutions from $31.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. Barclays dropped 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. Bank of America upgraded Element Solutions from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Finally, BMO Capital Markets dropped their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.38.

Element Solutions Stock Down 1.0%

Shares of ESI traded down $0.22 during trading hours on Monday, hitting $21.16. The company had a trading volume of 1,505,774 shares, compared to its average volume of 1,965,219. The company has a market capitalization of $5.13 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a one year low of $16.77 and a one year high of $29.78. The company's fifty day moving average price is $20.67 and its two-hundred day moving average price is $24.31.

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

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.51%. 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.