Parkside Investments LLC Sells 35,725 Shares of Element Solutions Inc. $ESI

Key Points

• Parkside Investments LLC reduced its stake in Element Solutions Inc. by 10.7%, selling 35,725 shares and owning approximately 0.12% of the company, valued at $6.77 million.
• Element Solutions reported Q2 earnings of $0.37 per share, exceeding analysts' expectations and showing a 2.0% increase in revenue year-over-year.
• Several firms raised their price targets on Element Solutions, with Mizuho setting it at $27.00 and KeyCorp at $30.00, reflecting positive analyst sentiment.

Parkside Investments LLC cut its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,700 shares of the company's stock after selling 35,725 shares during the period. Parkside Investments LLC owned approximately 0.12% of Element Solutions worth $6,766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Element Solutions by 12.1% during the first quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company's stock worth $563,732,000 after acquiring an additional 2,688,056 shares in the last quarter. Gates Capital Management Inc. lifted its holdings in Element Solutions by 101.9% during the first quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company's stock worth $122,653,000 after acquiring an additional 2,738,250 shares in the last quarter. Locust Wood Capital Advisers LLC lifted its holdings in Element Solutions by 15.9% during the first quarter. Locust Wood Capital Advisers LLC now owns 3,680,449 shares of the company's stock worth $83,215,000 after acquiring an additional 505,983 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Element Solutions by 131.0% in the 1st quarter. AQR Capital Management LLC now owns 2,861,197 shares of the company's stock valued at $64,692,000 after purchasing an additional 1,622,819 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Element Solutions by 31.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,753,606 shares of the company's stock valued at $62,259,000 after purchasing an additional 651,251 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Stock Up 0.0%

ESI opened at $24.98 on Tuesday. Element Solutions Inc. has a 1-year low of $16.77 and a 1-year high of $29.78. The stock's fifty day simple moving average is $25.08 and its 200 day simple moving average is $23.03. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. The stock has a market cap of $6.03 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 1.63 and a beta of 1.31.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The business had revenue of $625.20 million for the quarter, compared to analysts' expectations of $587.45 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 2nd. Element Solutions's payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ESI. Mizuho lifted their price target on Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. KeyCorp lifted their price target on Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Fermium Researc raised Element Solutions to a "strong-buy" rating in a research note on Wednesday, September 17th. UBS Group lifted their price target on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 target price (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $27.38.

Insider Transactions at Element Solutions

In other news, EVP Carey J. Dorman sold 40,725 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total transaction of $1,085,728.50. Following the completion of the sale, the executive vice president owned 214,837 shares in the company, valued at $5,727,554.42. The trade was a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Matthew Liebowitz sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $26.55, for a total value of $1,327,500.00. Following the sale, the executive vice president owned 57,353 shares of the company's stock, valued at approximately $1,522,722.15. This represents a 46.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,399 shares of company stock worth $4,492,561 over the last quarter. Company insiders own 6.90% 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.

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