Teacher Retirement System of Texas Reduces Stake in Element Solutions Inc. (NYSE:ESI)

Teacher Retirement System of Texas lessened its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 30.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,233 shares of the company's stock after selling 27,059 shares during the period. Teacher Retirement System of Texas' holdings in Element Solutions were worth $1,430,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ESI. TD Private Client Wealth LLC purchased a new position in shares of Element Solutions during the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in shares of Element Solutions during the fourth quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Element Solutions during the fourth quarter worth $68,000. Wells Fargo & Company MN increased its position in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock worth $88,000 after purchasing an additional 1,739 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Element Solutions by 53.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,649 shares of the company's stock worth $144,000 after purchasing an additional 1,963 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ESI shares. BMO Capital Markets dropped their price objective on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. UBS Group increased their target price on shares of Element Solutions from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday. KeyCorp lowered their target price 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. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and lowered their target price for the stock from $28.00 to $24.00 in a research note on Monday, April 14th. Finally, Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $29.00 to $24.00 in a research note on Tuesday, April 15th. Two 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.25.

Element Solutions Stock Down 1.6%

ESI opened at $24.70 on Friday. Element Solutions Inc. has a twelve month low of $16.77 and a twelve month high of $29.78. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average price of $22.23 and a 200 day moving average price of $23.30. The company has a market cap of $5.99 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data 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 net margin of 11.56% and a return on equity of 14.42%. Element Solutions's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. Sell-side analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.08 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.30%. Element Solutions's payout ratio is 26.89%.

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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