Allspring Global Investments Holdings LLC Cuts Stake in Element Solutions Inc (NYSE:ESI)

Allspring Global Investments Holdings LLC decreased its stake in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 45.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,610 shares of the company's stock after selling 287,250 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.15% of Element Solutions worth $8,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Treasurer of the State of North Carolina increased its stake in Element Solutions by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 98,021 shares of the company's stock valued at $1,922,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Element Solutions by 85.6% in the third quarter. EverSource Wealth Advisors LLC now owns 1,318 shares of the company's stock worth $26,000 after acquiring an additional 608 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Element Solutions by 9.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,974 shares of the company's stock worth $127,000 after acquiring an additional 622 shares during the period. Donoghue Forlines LLC increased its stake in shares of Element Solutions by 4.3% in the third quarter. Donoghue Forlines LLC now owns 16,866 shares of the company's stock worth $331,000 after acquiring an additional 691 shares during the period. Finally, Covestor Ltd increased its stake in shares of Element Solutions by 32.1% in the first quarter. Covestor Ltd now owns 2,845 shares of the company's stock worth $62,000 after acquiring an additional 692 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Price Performance

ESI traded down $0.14 during midday trading on Thursday, hitting $23.63. 1,083,475 shares of the company traded hands, compared to its average volume of 1,313,551. The company has a current ratio of 3.24, a quick ratio of 2.43 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 48.22, a PEG ratio of 2.07 and a beta of 1.32. Element Solutions Inc has a 52-week low of $17.08 and a 52-week high of $25.81. The business has a 50 day simple moving average of $24.11 and a two-hundred day simple moving average of $22.03.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $573.40 million for the quarter, compared to the consensus estimate of $590.43 million. Element Solutions had a net margin of 5.06% and a return on equity of 13.51%. The company's revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. On average, equities analysts forecast that Element Solutions Inc will post 1.4 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, February 29th. Element Solutions's payout ratio is 65.31%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of Element Solutions from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their price objective on shares of Element Solutions from $22.00 to $26.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 5th. StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research report on Thursday, April 11th. Wolfe Research assumed coverage on shares of Element Solutions in a research report on Friday, March 1st. They set a "peer perform" rating on the stock. Finally, UBS Group raised their price target on shares of Element Solutions from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Element Solutions has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP Michael Goralski sold 1,169 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $23.20, for a total transaction of $27,120.80. Following the transaction, the executive vice president now directly owns 146,297 shares of the company's stock, valued at $3,394,090.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Michael Goralski sold 1,169 shares of the firm's stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $23.20, for a total value of $27,120.80. Following the transaction, the executive vice president now directly owns 146,297 shares of the company's stock, valued at $3,394,090.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Carey J. Dorman sold 14,774 shares of the firm's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $23.20, for a total transaction of $342,756.80. Following the completion of the transaction, the chief financial officer now directly owns 171,551 shares in the company, valued at $3,979,983.20. The disclosure for this sale can be found here. Insiders have sold a total of 97,203 shares of company stock valued at $2,255,110 over the last ninety days. Corporate 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.