Element Solutions Inc (NYSE:ESI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Element Solutions Inc (NYSE:ESI) by 14.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 50,794 shares of the company’s stock after selling 8,833 shares during the period. Victory Capital Management Inc.’s holdings in Element Solutions were worth $1,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP acquired a new position in Element Solutions in the 2nd quarter valued at about $31,000. LRI Investments LLC acquired a new position in shares of Element Solutions in the first quarter valued at approximately $78,000. EverSource Wealth Advisors LLC raised its stake in shares of Element Solutions by 39.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after purchasing an additional 864 shares during the last quarter. Quest Partners LLC grew its position in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after buying an additional 3,212 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Element Solutions by 13.8% in the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock valued at $100,000 after buying an additional 448 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Stock Performance

ESI opened at $29.33 on Tuesday. Element Solutions Inc has a 1-year low of $20.31 and a 1-year high of $29.78. The stock has a market cap of $7.10 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.60 and a beta of 1.29. The stock’s 50 day simple moving average is $26.83 and its 200 day simple moving average is $26.12. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77.

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

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, December 2nd. Element Solutions’s payout ratio is currently 28.83%.

Analysts Set New Price Targets

Several research firms have recently commented on ESI. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. BMO Capital Markets raised their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. Finally, Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Element Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

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.