Voya Investment Management LLC Has $14.61 Million Holdings in Element Solutions Inc. $ESI

Key Points

• Voya Investment Management LLC reduced its stake in Element Solutions Inc. by 28.8%, selling 261,556 shares and retaining a total of 646,180 shares, valued at approximately $14.61 million.
• Analysts have issued new price targets for Element Solutions, with Goldman Sachs setting a price objective of $27.00 and UBS Group raising theirs to $30.00, reflecting overall positive sentiments with an average rating of "Buy."
• Element Solutions recently declared a quarterly dividend of $0.08 per share, with a total annualized dividend of $0.32, representing a yield of 1.2% and a payout ratio of 32%.

Voya Investment Management LLC lowered its stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 28.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 646,180 shares of the company's stock after selling 261,556 shares during the period. Voya Investment Management LLC owned 0.27% of Element Solutions worth $14,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Element Solutions in the first quarter valued at $1,172,000. Focus Partners Wealth acquired a new position in shares of Element Solutions during the 1st quarter worth about $400,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Element Solutions by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company's stock worth $19,726,000 after acquiring an additional 37,204 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Element Solutions in the 1st quarter valued at about $281,000. Finally, Caxton Associates LLP acquired a new stake in shares of Element Solutions in the 1st quarter valued at about $676,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Insiders Place Their Bets

In other news, EVP John Edward Capps sold 77,674 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the completion of the sale, the executive vice president owned 609,790 shares in the company, valued at approximately $16,324,078.30. This represents a 11.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matthew Liebowitz sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were 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. The trade was a 46.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,399 shares of company stock worth $4,492,561. Company insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Element Solutions Stock Down 1.7%

Shares of NYSE ESI traded down $0.47 during midday trading on Friday, reaching $26.52. 6,265,477 shares of the company's stock were exchanged, compared to its average volume of 1,717,859. The stock has a market capitalization of $6.41 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 1.76 and a beta of 1.31. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78. The business's fifty day moving average price is $24.97 and its two-hundred day moving average price is $23.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10.

Element Solutions (NYSE:ESI - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.36 EPS. Analysts forecast that Element Solutions Inc. will post 1.45 EPS 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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions's payout ratio is currently 32.00%.

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.