Gallo Partners LP Buys New Stake in Element Solutions Inc (NYSE:ESI)

Gallo Partners LP bought a new position in shares of Element Solutions Inc (NYSE:ESI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 86,719 shares of the company's stock, valued at approximately $2,205,000. Element Solutions accounts for about 1.6% of Gallo Partners LP's investment portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of ESI. Vanguard Group Inc. raised its position in shares of Element Solutions by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company's stock valued at $565,685,000 after buying an additional 249,280 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Element Solutions by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company's stock valued at $132,468,000 after purchasing an additional 209,441 shares during the period. Geode Capital Management LLC raised its position in Element Solutions by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company's stock valued at $90,456,000 after purchasing an additional 14,339 shares during the period. Locust Wood Capital Advisers LLC lifted its stake in shares of Element Solutions by 11.4% in the 4th quarter. Locust Wood Capital Advisers LLC now owns 3,174,466 shares of the company's stock valued at $80,727,000 after purchasing an additional 325,297 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Element Solutions by 80.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company's stock worth $74,282,000 after purchasing an additional 1,301,602 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Up 2.1 %

Shares of NYSE ESI traded up $0.44 during mid-day trading on Friday, hitting $21.08. The company had a trading volume of 1,764,894 shares, compared to its average volume of 1,936,539. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78. The company has a market capitalization of $5.11 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The business's 50-day simple moving average is $22.21 and its 200 day simple moving average is $25.10.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. The business had revenue of $593.70 million during the quarter, compared to analysts' expectations of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.08 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.52%. Element Solutions's payout ratio is 26.89%.

Insider Buying and Selling

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ESI shares. The Goldman Sachs Group decreased their target price on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. UBS Group dropped their target price on shares of Element Solutions from $31.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. KeyCorp decreased their price target on Element Solutions from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Truist Financial raised Element Solutions from a "hold" rating to a "buy" rating and dropped their price objective for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Two investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.38.

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.