Edgestream Partners L.P. Sells 219,194 Shares of Element Solutions Inc (NYSE:ESI)

Edgestream Partners L.P. cut its stake in shares of Element Solutions Inc (NYSE:ESI) by 77.1% during the 2nd quarter, Holdings Channel reports. The fund owned 65,234 shares of the company’s stock after selling 219,194 shares during the period. Edgestream Partners L.P.’s holdings in Element Solutions were worth $1,769,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Element Solutions during the 2nd quarter worth about $1,518,000. Capital World Investors acquired a new position in Element Solutions during the 1st quarter worth approximately $44,527,000. Blue Trust Inc. bought a new position in Element Solutions in the second quarter worth approximately $613,000. Principal Financial Group Inc. grew its stake in Element Solutions by 243.1% in the first quarter. Principal Financial Group Inc. now owns 101,819 shares of the company’s stock valued at $2,543,000 after acquiring an additional 72,145 shares during the period. Finally, Clearbridge Investments LLC increased its holdings in shares of Element Solutions by 7.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,762,392 shares of the company’s stock valued at $40,782,000 after acquiring an additional 118,237 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ESI. Mizuho increased 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 raised shares of Element Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. UBS Group boosted their target price on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $28.00) on shares of Element Solutions in a research report on Wednesday, June 12th. Finally, The Goldman Sachs Group lifted their price target on Element Solutions from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.40.

Element Solutions Stock Up 2.3 %

ESI opened at $25.83 on Friday. Element Solutions Inc has a fifty-two week low of $17.57 and a fifty-two week high of $28.68. The firm has a market capitalization of $6.25 billion, a P/E ratio of 47.83, a PEG ratio of 1.35 and a beta of 1.29. The company’s 50-day moving average is $26.02 and its 200 day moving average is $25.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60.

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

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.08 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.32 annualized dividend and a yield of 1.24%. Element Solutions’s dividend payout ratio is currently 59.26%.

About Element Solutions

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.