Man Group plc Sells 43,238 Shares of Element Solutions Inc (NYSE:ESI)

Man Group plc lessened its position in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 31.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,422 shares of the company's stock after selling 43,238 shares during the period. Man Group plc's holdings in Element Solutions were worth $2,452,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Numerai GP LLC bought a new position in shares of Element Solutions in the fourth quarter worth approximately $259,000. Moore Capital Management LP purchased a new position in Element Solutions in the 4th quarter worth approximately $6,278,000. London Co. of Virginia bought a new position in shares of Element Solutions in the 4th quarter worth $29,800,000. Luminus Management LLC bought a new position in shares of Element Solutions in the 4th quarter worth $1,182,000. Finally, Lighthouse Investment Partners LLC raised its position in shares of Element Solutions by 24.4% during the 4th quarter. Lighthouse Investment Partners LLC now owns 99,760 shares of the company's stock valued at $2,537,000 after buying an additional 19,539 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESI has been the subject of a number of recent research reports. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and dropped their target price for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. KeyCorp lowered their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. UBS Group reduced their price objective on Element Solutions from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets decreased their price objective on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, The Goldman Sachs Group dropped their target price on Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.38.

Element Solutions Trading Down 1.6%

Shares of NYSE:ESI traded down $0.36 during midday trading on Wednesday, hitting $21.74. 124,103 shares of the stock traded hands, compared to its average volume of 1,956,417. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The business's 50 day moving average is $20.89 and its two-hundred day moving average is $24.48. The stock has a market capitalization of $5.27 billion, a PE ratio of 21.33, a P/E/G ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a one year low of $16.77 and a one year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. 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 company earned $0.34 earnings per share. As a group, research analysts forecast that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.47%. Element Solutions's dividend payout ratio is 26.89%.

Insider Activity

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This trade represents a 94.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.90% of the company's stock.

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.