Rhumbline Advisers Sells 13,746 Shares of Element Solutions Inc (NYSE:ESI)

Rhumbline Advisers lessened its holdings in shares of Element Solutions Inc (NYSE:ESI) by 5.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 225,285 shares of the company’s stock after selling 13,746 shares during the period. Rhumbline Advisers’ holdings in Element Solutions were worth $6,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESI. Capital World Investors acquired a new position in Element Solutions during the 1st quarter worth $44,527,000. Glenview Capital Management LLC grew its position in shares of Element Solutions by 35.2% during the 4th quarter. Glenview Capital Management LLC now owns 3,762,620 shares of the company’s stock worth $87,067,000 after buying an additional 979,798 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of Element Solutions by 10,622.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 848,567 shares of the company’s stock worth $19,636,000 after buying an additional 840,653 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Element Solutions by 39.4% in the fourth quarter. Schroder Investment Management Group now owns 1,538,278 shares of the company’s stock valued at $35,596,000 after buying an additional 434,590 shares during the period. Finally, Verition Fund Management LLC boosted its stake in Element Solutions by 493.3% in the fourth quarter. Verition Fund Management LLC now owns 505,167 shares of the company’s stock valued at $11,690,000 after acquiring an additional 420,017 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $25.62 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 1.35 and a beta of 1.29. Element Solutions Inc has a one year low of $17.57 and a one year high of $28.68. The stock’s 50-day moving average is $26.16 and its 200-day moving average is $25.19.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $613.00 million during the quarter, compared to analysts’ expectations of $606.95 million. Element Solutions had a net margin of 8.24% and a return on equity of 14.42%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. Equities analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s dividend payout ratio is currently 59.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ESI shares. BMO Capital Markets reissued an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a research note on Wednesday, June 12th. Mizuho upped their price target on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. UBS Group lifted their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Saturday. Finally, The Goldman Sachs Group boosted their price target on shares of Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

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.