Envestnet Portfolio Solutions Inc. Raises Position in Element Solutions Inc (NYSE:ESI)

Envestnet Portfolio Solutions Inc. increased its holdings in Element Solutions Inc (NYSE:ESI) by 108.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,360 shares of the company’s stock after buying an additional 17,879 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Element Solutions were worth $874,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESI. True Wealth Design LLC purchased a new stake in shares of Element Solutions in the third quarter worth $25,000. First Horizon Advisors Inc. raised its position in shares of Element Solutions by 610.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $29,000 after buying an additional 971 shares in the last quarter. Trust Co. of Vermont purchased a new stake in shares of Element Solutions in the fourth quarter worth $43,000. Parkside Financial Bank & Trust purchased a new stake in shares of Element Solutions in the fourth quarter worth $48,000. Finally, UMB Bank n.a. raised its position in shares of Element Solutions by 98.8% in the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock worth $49,000 after buying an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Down 3.5 %

ESI opened at $25.31 on Monday. The company has a market cap of $6.14 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.30 and a beta of 1.29. The business’s 50-day moving average price is $25.78 and its 200-day moving average price is $26.34. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a 12 month low of $23.10 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. On average, equities analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ESI. Truist Financial began coverage on Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective on the stock. Bank of America restated a “neutral” rating and set a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Barclays lowered their price target on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets raised their price target on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Four equities 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. Based on data from MarketBeat, Element Solutions has an average rating of “Moderate Buy” and a consensus price target of $30.14.

Insider Buying and Selling

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now directly owns 109,100 shares of the company’s stock, valued at $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.90% of the stock is owned by insiders.

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.