Element Solutions Inc (NYSE:ESI) Stake Trimmed by Eventide Asset Management LLC

Eventide Asset Management LLC lowered its stake in Element Solutions Inc (NYSE:ESI) by 12.5% during the third quarter, HoldingsChannel reports. The firm owned 702,168 shares of the company’s stock after selling 99,945 shares during the period. Eventide Asset Management LLC’s holdings in Element Solutions were worth $19,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Captrust Financial Advisors raised its stake in shares of Element Solutions by 81.3% in the 3rd quarter. Captrust Financial Advisors now owns 24,540 shares of the company’s stock valued at $667,000 after acquiring an additional 11,004 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Element Solutions by 2.2% in the third quarter. The Manufacturers Life Insurance Company now owns 52,020 shares of the company’s stock valued at $1,413,000 after acquiring an additional 1,137 shares during the period. Algert Global LLC grew its position in Element Solutions by 441.2% in the third quarter. Algert Global LLC now owns 125,333 shares of the company’s stock valued at $3,404,000 after acquiring an additional 102,175 shares during the period. Cerity Partners LLC grew its holdings in shares of Element Solutions by 40.4% during the third quarter. Cerity Partners LLC now owns 172,000 shares of the company’s stock worth $4,672,000 after purchasing an additional 49,466 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Element Solutions by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,299,641 shares of the company’s stock valued at $62,458,000 after acquiring an additional 38,859 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

ESI has been the topic of a number of research analyst reports. Barclays raised their price target on Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. BMO Capital Markets boosted their price target on Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Element Solutions Price Performance

Shares of ESI opened at $28.47 on Friday. Element Solutions Inc has a 1-year low of $20.31 and a 1-year high of $29.78. The firm has a fifty day simple moving average of $27.07 and a two-hundred day simple moving average of $26.22. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. The firm has a market cap of $6.89 billion, a PE ratio of 25.65, a P/E/G ratio of 1.57 and a beta of 1.29.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. On average, equities analysts anticipate that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.12%. Element Solutions’s dividend payout ratio is currently 28.83%.

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.