Wellington Management Group LLP Sells 1,051,484 Shares of Element Solutions Inc. $ESI

Key Points

• Wellington Management Group LLP sold 1,051,484 shares of Element Solutions Inc., reducing its stake by 16.5% to a total of 5,332,878 shares valued at approximately $120.6 million.
• Element Solutions reported a quarterly EPS of $0.37 for the last quarter, surpassing expectations, and attained a revenue of $625.2 million, marking a year-over-year increase of 2%.
• A variety of institutional investors are actively adjusting their holdings in Element Solutions, with notable increases from firms like Vanguard Group and Massachusetts Financial Services during the first quarter.

Wellington Management Group LLP reduced its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,332,878 shares of the company's stock after selling 1,051,484 shares during the quarter. Wellington Management Group LLP owned about 2.20% of Element Solutions worth $120,576,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 2,688,056 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of Element Solutions by 3.0% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,026,543 shares of the company's stock valued at $127,825,000 after buying an additional 146,570 shares during the last quarter. Locust Wood Capital Advisers LLC increased its position in shares of 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. Massachusetts Financial Services Co. MA raised its holdings 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 worth $62,259,000 after acquiring an additional 651,251 shares during the last quarter. Finally, Gates Capital Management Inc. raised its holdings in shares of Element Solutions by 5.3% in the 4th quarter. Gates Capital Management Inc. now owns 2,686,495 shares of the company's stock worth $68,318,000 after acquiring an additional 134,465 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Stock Performance

Shares of ESI opened at $24.9650 on Friday. The stock has a 50 day moving average of $23.69 and a 200 day moving average of $23.04. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.63 and a beta of 1.26. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $29.78. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62.

Element Solutions (NYSE:ESI - Get Free Report) last announced 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. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The firm had revenue of $625.20 million during the quarter, compared to the consensus estimate of $587.45 million. During the same quarter in the prior year, the company earned $0.36 EPS. The business's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Element Solutions's dividend payout ratio (DPR) is presently 32.00%.

Analysts Set New Price Targets

A number of research firms have issued reports on ESI. 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. UBS Group lifted their target price on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. The Goldman Sachs Group reiterated a "neutral" rating and set a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a report on Tuesday, July 15th. Barclays lowered their price target on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Mizuho lifted their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $27.38.

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.

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