T. Rowe Price Investment Management Inc. Sells 1,517,307 Shares of Element Solutions Inc (NYSE:ESI)

T. Rowe Price Investment Management Inc. lowered its holdings in shares of Element Solutions Inc (NYSE:ESI - Free Report) by 13.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,688,671 shares of the company's stock after selling 1,517,307 shares during the period. T. Rowe Price Investment Management Inc. owned about 4.00% of Element Solutions worth $246,383,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Element Solutions by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company's stock worth $565,685,000 after purchasing an additional 249,280 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of 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 buying an additional 209,441 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 14,339 shares during the period. Locust Wood Capital Advisers LLC increased its stake in shares of Element Solutions by 11.4% in the fourth quarter. Locust Wood Capital Advisers LLC now owns 3,174,466 shares of the company's stock valued at $80,727,000 after buying an additional 325,297 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 1,301,602 shares during the period. Institutional investors and hedge funds own 92.32% of the company's stock.

Wall Street Analyst Weigh In

ESI has been the topic of several research analyst reports. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and cut their target price for the company from $28.00 to $24.00 in a research report on Monday, April 14th. The Goldman Sachs Group decreased their price target on shares of Element Solutions from $30.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday. KeyCorp decreased their price target on shares of Element Solutions from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a "neutral" rating to a "buy" rating and decreased their price target for the company from $29.00 to $24.00 in a research note on Tuesday, April 15th. Finally, StockNews.com lowered shares of Element Solutions from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Two investment 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. According to data from MarketBeat.com, Element Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.38.

Element Solutions Trading Up 1.1 %

NYSE ESI traded up $0.23 during trading on Tuesday, hitting $20.27. 570,374 shares of the company's stock traded hands, compared to its average volume of 1,922,850. The stock has a fifty day moving average of $22.69 and a two-hundred day moving average of $25.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. Element Solutions Inc has a 12-month low of $16.77 and a 12-month high of $29.78. The firm has a market cap of $4.92 billion, a P/E ratio of 19.84, a PEG ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results 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. 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 in the prior year, the business posted $0.34 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, March 3rd. 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 business's stock in a transaction dated Wednesday, March 19th. The stock was 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 approximately $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.90% of the stock is owned by insiders.

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.