Element Solutions Inc (NYSE:ESI) Director Sells $52,200,000.00 in Stock

Element Solutions Inc (NYSE:ESI) Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Element Solutions Trading Down 3.5 %

Shares of ESI stock opened at $25.31 on Monday. The stock has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $26.34. Element Solutions Inc has a 52-week low of $23.10 and a 52-week high of $29.78. The firm has a market capitalization of $6.14 billion, a PE ratio of 24.81, a PEG ratio of 2.30 and a beta of 1.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. On average, analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is presently 31.37%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial assumed coverage on Element Solutions in a report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 target price on the stock. BMO Capital Markets upped their target price on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Bank of America reiterated a “neutral” rating and set a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Barclays decreased their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Element Solutions has a consensus rating of “Moderate Buy” and an average price target of $30.14.

Hedge Funds Weigh In On Element Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ilex Capital Partners UK LLP boosted its holdings in shares of Element Solutions by 162.7% during the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock valued at $67,085,000 after purchasing an additional 1,529,607 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Element Solutions by 549.2% during the third quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after buying an additional 1,369,981 shares during the last quarter. FIL Ltd purchased a new position in Element Solutions during the 4th quarter valued at approximately $29,818,000. London Co. of Virginia purchased a new position in Element Solutions during the 4th quarter valued at approximately $29,800,000. Finally, Boston Partners bought a new stake in Element Solutions in the 4th quarter worth approximately $24,169,000. Institutional investors own 92.32% of the company’s stock.

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.