Wellington Management Group LLP Cuts Stock Holdings in Element Solutions Inc (NYSE:ESI)

Wellington Management Group LLP reduced its position in shares of Element Solutions Inc (NYSE:ESI) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,670,796 shares of the company’s stock after selling 1,960,585 shares during the period. Wellington Management Group LLP’s holdings in Element Solutions were worth $223,782,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. 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 worth $1,922,000 after buying an additional 500 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Element Solutions by 1.5% during the 4th quarter. Handelsbanken Fonder AB now owns 34,115 shares of the company’s stock worth $789,000 after purchasing an additional 500 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Element Solutions by 4.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 15,721 shares of the company’s stock worth $364,000 after purchasing an additional 598 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Element Solutions by 51.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,002 shares of the company’s stock worth $46,000 after purchasing an additional 684 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in shares of Element Solutions by 3.4% during the 4th quarter. AIA Group Ltd now owns 22,586 shares of the company’s stock worth $523,000 after purchasing an additional 744 shares during the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Stock Up 2.8 %

NYSE:ESI opened at $27.86 on Wednesday. The company has a quick ratio of 2.69, a current ratio of 3.63 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $24.22 and its two-hundred day moving average is $23.53. Element Solutions Inc has a 52 week low of $17.57 and a 52 week high of $27.86. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 2.04 and a beta of 1.29.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Monday, April 29th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Element Solutions had a return on equity of 13.96% and a net margin of 5.62%. The company had revenue of $575.00 million for the quarter, compared to analysts’ expectations of $588.17 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Research analysts anticipate that Element Solutions Inc will post 1.41 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 31st. Element Solutions’s dividend payout ratio (DPR) is 59.26%.

Analysts Set New Price Targets

ESI has been the topic of several recent research reports. TheStreet upgraded Element Solutions from a “c+” rating to a “b” rating in a report on Tuesday, February 20th. Barclays boosted their target price on Element Solutions from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Mizuho boosted their target price on Element Solutions from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Wolfe Research started coverage on Element Solutions in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $27.60.

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.