Jane Street Group LLC Decreases Stock Position in Element Solutions Inc (NYSE:ESI)

Jane Street Group LLC lowered its position in Element Solutions Inc (NYSE:ESI) by 69.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,003 shares of the company’s stock after selling 121,942 shares during the period. Jane Street Group LLC’s holdings in Element Solutions were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in Element Solutions by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,061,922 shares of the company’s stock valued at $28,799,000 after buying an additional 60,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Element Solutions by 16.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,690 shares of the company’s stock valued at $1,673,000 after acquiring an additional 8,491 shares in the last quarter. Signaturefd LLC lifted its stake in Element Solutions by 13.8% in the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after acquiring an additional 448 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Element Solutions in the second quarter worth about $453,000. Finally, nVerses Capital LLC grew its holdings in Element Solutions by 24.6% during the 2nd quarter. nVerses Capital LLC now owns 7,600 shares of the company’s stock worth $206,000 after acquiring an additional 1,500 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ESI shares. BMO Capital Markets upped their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays boosted 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 raised Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.40.

Element Solutions Price Performance

NYSE ESI opened at $25.60 on Friday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77. The stock’s fifty day moving average price is $27.40 and its 200 day moving average price is $26.65. Element Solutions Inc has a 1 year low of $21.42 and a 1 year high of $29.78.

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

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, December 2nd. Element Solutions’s dividend payout ratio (DPR) is presently 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.