Gotham Asset Management LLC Purchases 78,755 Shares of Element Solutions Inc (NYSE:ESI)

Gotham Asset Management LLC lifted its stake in Element Solutions Inc (NYSE:ESI - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,277 shares of the company's stock after purchasing an additional 78,755 shares during the quarter. Gotham Asset Management LLC owned about 0.10% of Element Solutions worth $6,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its position in shares of Element Solutions by 79.0% in the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company's stock worth $1,541,000 after purchasing an additional 26,753 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Element Solutions in the 4th quarter worth approximately $423,000. Charles Schwab Investment Management Inc. boosted its position in shares of Element Solutions by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company's stock worth $59,224,000 after purchasing an additional 29,253 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Element Solutions by 18.6% in the 4th quarter. Principal Financial Group Inc. now owns 74,709 shares of the company's stock worth $1,900,000 after acquiring an additional 11,702 shares during the last quarter. Finally, Boston Partners purchased a new position in Element Solutions in the 4th quarter worth approximately $24,169,000. 92.32% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares of the company's stock, valued at $2,847,510. The trade was a 94.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.90% of the company's stock.

Element Solutions Stock Performance

ESI traded up $0.24 during mid-day trading on Friday, reaching $22.36. 1,157,794 shares of the company traded hands, compared to its average volume of 1,959,878. The stock has a market capitalization of $5.42 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.30 and a beta of 1.24. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The company's fifty day moving average price is $21.48 and its 200-day moving average price is $24.80. Element Solutions Inc has a 52-week low of $16.77 and a 52-week high of $29.78.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ESI. KeyCorp decreased their price objective on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, April 14th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $29.00 to $24.00 in a report on Tuesday, April 15th. The Goldman Sachs Group decreased their price objective on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Finally, Truist Financial upgraded shares of Element Solutions from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.38.

Element Solutions 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.