Fmr LLC Lowers Holdings in Element Solutions Inc (NYSE:ESI)

Fmr LLC lowered its position in shares of Element Solutions Inc (NYSE:ESI) by 16.3% in the third quarter, Holdings Channel reports. The institutional investor owned 19,085,704 shares of the company’s stock after selling 3,718,148 shares during the period. Fmr LLC owned 0.08% of Element Solutions worth $518,368,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ESI. Quarry LP acquired a new position in shares of Element Solutions during the second quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after purchasing an additional 864 shares in the last quarter. Quest Partners LLC increased its position in Element Solutions by 14,600.0% during the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock worth $88,000 after purchasing an additional 3,212 shares during the period. LRI Investments LLC acquired a new position in Element Solutions during the 1st quarter worth approximately $78,000. Finally, Signaturefd LLC raised its stake in shares of Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Price Performance

Shares of NYSE ESI opened at $28.68 on Friday. 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 company’s 50-day moving average price is $27.13 and its 200 day moving average price is $26.25. Element Solutions Inc has a 52 week low of $20.31 and a 52 week high of $29.78. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.57 and a beta of 1.29.

Element Solutions (NYSE:ESI) last issued 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. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The business had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. During the same period last year, the company posted $0.36 EPS. The company’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.08 dividend. 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 (DPR) is 28.83%.

Wall Street Analyst Weigh In

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

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.