Reinhart Partners LLC. Trims Stake in Element Solutions Inc (NYSE:ESI)

Reinhart Partners LLC. lowered its holdings in Element Solutions Inc (NYSE:ESI - Free Report) by 27.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 930,259 shares of the company's stock after selling 344,902 shares during the quarter. Reinhart Partners LLC. owned 0.38% of Element Solutions worth $21,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESI. TD Private Client Wealth LLC purchased a new stake in Element Solutions in the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in Element Solutions during the 4th quarter valued at about $28,000. First Horizon Advisors Inc. grew its position in Element Solutions by 610.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company's stock valued at $29,000 after acquiring an additional 971 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in Element Solutions in the 4th quarter valued at about $48,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Element Solutions during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ESI. Barclays cut their price target on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group cut their price target on shares of 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 upgraded shares of Element Solutions from a "hold" rating to a "buy" rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and cut their price target for the stock from $29.00 to $24.00 in a research note on Tuesday, April 15th. Finally, KeyCorp cut their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note 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. According to data from MarketBeat.com, Element Solutions presently has a consensus rating of "Moderate Buy" and an average price target of $26.38.

Insider Activity at Element Solutions

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Element Solutions Stock Performance

Shares of ESI opened at $21.68 on Friday. The stock has a 50 day moving average price of $20.48 and a 200 day moving average price of $24.13. 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 company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 21.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a 52-week low of $16.77 and a 52-week high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. The firm 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 earnings per share. Research analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, June 2nd. Element Solutions's dividend payout ratio (DPR) is 26.89%.

Element Solutions Company 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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