Teacher Retirement System of Texas Sells 27,059 Shares of Element Solutions Inc. (NYSE:ESI)

Teacher Retirement System of Texas lessened its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 30.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ESI. Proficio Capital Partners LLC bought a new position in shares of Element Solutions during the 4th quarter valued at about $423,000. Raymond James Financial Inc. bought a new position in shares of Element Solutions in the 4th quarter valued at about $13,573,000. PNC Financial Services Group Inc. grew its position in Element Solutions by 11.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company's stock worth $169,000 after acquiring an additional 684 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in Element Solutions in the fourth quarter worth about $707,000. Finally, HighTower Advisors LLC grew its position in Element Solutions by 8.6% in the fourth quarter. HighTower Advisors LLC now owns 12,890 shares of the company's stock worth $328,000 after acquiring an additional 1,020 shares in the last quarter. Institutional investors own 92.32% of the company's stock.

Element Solutions Trading Up 0.2%

NYSE ESI traded up $0.04 during trading on Wednesday, hitting $24.24. The stock had a trading volume of 1,631,359 shares, compared to its average volume of 2,035,228. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.16 and a current ratio of 3.95. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.97 and a beta of 1.23. Element Solutions Inc. has a one year low of $16.77 and a one year high of $29.78. The stock has a 50 day simple moving average of $22.37 and a 200 day simple moving average of $23.29.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, June 2nd. Element Solutions's dividend payout ratio is presently 26.89%.

Analysts Set New Price Targets

Several research analysts recently commented on ESI shares. Bank of America upgraded Element Solutions from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. BMO Capital Markets dropped their price target on Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Mizuho lifted their price target on Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group lifted their price target on Element Solutions from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and dropped their price target for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.13.

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.