Harbor Capital Advisors Inc. Sells 2,408 Shares of Element Solutions Inc (NYSE:ESI)

Harbor Capital Advisors Inc. trimmed its position in shares of Element Solutions Inc (NYSE:ESI) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 103,337 shares of the company’s stock after selling 2,408 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Element Solutions were worth $2,628,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ESI. JPMorgan Chase & Co. raised its position in Element Solutions by 549.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock worth $43,983,000 after purchasing an additional 1,369,981 shares during the last quarter. Synovus Financial Corp raised its position in shares of Element Solutions by 7.7% during the third quarter. Synovus Financial Corp now owns 45,286 shares of the company’s stock worth $1,230,000 after acquiring an additional 3,224 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Element Solutions by 10.7% during the third quarter. Tidal Investments LLC now owns 51,324 shares of the company’s stock valued at $1,394,000 after acquiring an additional 4,971 shares during the period. World Investment Advisors LLC acquired a new stake in Element Solutions in the third quarter worth about $3,676,000. Finally, Geode Capital Management LLC raised its holdings in Element Solutions by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,541,513 shares of the company’s stock worth $96,216,000 after purchasing an additional 18,791 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays lifted their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a report on Monday, October 14th. Finally, BMO Capital Markets raised their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.40.

Element Solutions Stock Down 0.3 %

Shares of ESI stock opened at $25.40 on Friday. The firm has a fifty day moving average of $27.17 and a 200-day moving average of $26.57. Element Solutions Inc has a 12-month low of $21.42 and a 12-month high of $29.78. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.51 and a beta of 1.30. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78.

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

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 1.26%. Element Solutions’s payout ratio is currently 28.83%.

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.