Moore Capital Management LP Buys Shares of 246,879 Element Solutions Inc (NYSE:ESI)

Moore Capital Management LP purchased a new position in Element Solutions Inc (NYSE:ESI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 246,879 shares of the company's stock, valued at approximately $6,278,000. Moore Capital Management LP owned 0.10% of Element Solutions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in Element Solutions by 80.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company's stock valued at $74,282,000 after acquiring an additional 1,301,602 shares in the last quarter. FIL Ltd purchased a new stake in shares of Element Solutions during the fourth quarter valued at $29,818,000. London Co. of Virginia bought a new stake in Element Solutions in the 4th quarter worth about $29,800,000. Boston Partners purchased a new position in Element Solutions in the 4th quarter worth about $24,169,000. Finally, Raymond James Financial Inc. bought a new position in Element Solutions during the 4th quarter valued at about $13,573,000. Institutional investors own 92.32% of the company's stock.

Analysts Set New Price Targets

ESI has been the subject of several research reports. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and decreased their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. Barclays decreased their target price on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. KeyCorp cut their price objective on Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, BMO Capital Markets lowered their target price on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.38.

Element Solutions Price Performance

NYSE:ESI traded up $0.24 during trading hours on Friday, hitting $22.36. 1,157,794 shares of the stock traded hands, compared to its average volume of 1,959,878. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a 1 year low of $16.77 and a 1 year high of $29.78. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. The stock has a 50 day moving average price of $21.48 and a 200 day moving average price of $24.80.

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 analysts' consensus estimates of $0.33 by $0.01. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The business had revenue of $593.70 million during the quarter, compared to analyst estimates of $576.73 million. During the same period last year, the firm posted $0.34 EPS. The company's revenue was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of Element Solutions stock in a transaction dated 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 in the company, valued at $2,847,510. This trade represents a 94.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 7.90% of the company's stock.

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.