Wellington Management Group LLP Lowers Stock Holdings in 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 cut its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,332,878 shares of the company's stock after selling 1,051,484 shares during the quarter. Wellington Management Group LLP owned approximately 2.20% of Element Solutions worth $120,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Northern Trust Corp grew its stake in shares of Element Solutions by 14.4% in the first quarter. Northern Trust Corp now owns 1,787,542 shares of the company's stock worth $40,416,000 after purchasing an additional 224,758 shares during the last quarter. OneAscent Investment Solutions LLC bought a new stake in shares of Element Solutions in the first quarter worth about $457,000. Lord Abbett & CO. LLC grew its stake in shares of Element Solutions by 11.3% in the first quarter. Lord Abbett & CO. LLC now owns 321,007 shares of the company's stock worth $7,258,000 after purchasing an additional 32,486 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Element Solutions by 1,707.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company's stock worth $192,000 after purchasing an additional 8,041 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Element Solutions by 14.1% in the first quarter. Russell Investments Group Ltd. now owns 302,800 shares of the company's stock worth $6,846,000 after purchasing an additional 37,377 shares during the last quarter. 92.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ESI has been the topic of several recent analyst reports. KeyCorp raised their target price on Element Solutions from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group raised their target price on Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Mizuho lifted their price objective on Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, 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 report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $27.38.

Element Solutions Stock Up 0.4%

Element Solutions stock traded up $0.11 during trading hours on Wednesday, hitting $25.78. 1,132,969 shares of the stock traded hands, compared to its average volume of 1,678,540. The firm's 50-day moving average price is $24.05 and its two-hundred day moving average price is $23.05. The company has a current ratio of 4.10, a quick ratio of 3.30 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.23 billion, a PE ratio of 25.78, a PEG ratio of 1.67 and a beta of 1.26. Element Solutions Inc. has a one year low of $16.77 and a one year high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The business had revenue of $625.20 million for the quarter, compared to analysts' expectations of $587.45 million. During the same period in the previous year, the firm posted $0.36 EPS. The business's revenue was up 2.0% on a year-over-year basis. On average, research analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 2nd. Element Solutions's dividend payout ratio (DPR) is presently 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.