Bessemer Group Inc. Increases Position in Element Solutions Inc. $ESI

Bessemer Group Inc. lifted its holdings in Element Solutions Inc. (NYSE:ESI) by 30.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,041,454 shares of the company’s stock after acquiring an additional 244,794 shares during the quarter. Bessemer Group Inc.’s holdings in Element Solutions were worth $23,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank boosted its stake in shares of Element Solutions by 479.7% in the 1st quarter. Amalgamated Bank now owns 67,594 shares of the company’s stock worth $1,528,000 after buying an additional 55,933 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Element Solutions by 48.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,716,292 shares of the company’s stock worth $38,805,000 after buying an additional 560,346 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Element Solutions by 110.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,102 shares of the company’s stock worth $1,336,000 after buying an additional 30,953 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Element Solutions by 1,431.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company’s stock worth $25,863,000 after buying an additional 1,069,160 shares during the last quarter. Finally, Summit Trail Advisors LLC purchased a new position in shares of Element Solutions in the 1st quarter worth approximately $1,031,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ESI. Mizuho upped their price objective on Element Solutions from $27.00 to $29.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. KeyCorp upped their price objective on Element Solutions from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. UBS Group upped their price objective on Element Solutions from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. Finally, Fermium Researc upgraded Element Solutions to a “strong-buy” rating in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Element Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP John Edward Capps sold 77,674 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $26.77, for a total transaction of $2,079,332.98. Following the sale, the executive vice president owned 609,790 shares of the company’s stock, valued at $16,324,078.30. The trade was a 11.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Matthew Liebowitz sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the sale, the executive vice president directly owned 57,353 shares in the company, valued at $1,522,722.15. The trade was a 46.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 168,399 shares of company stock valued at $4,492,561 in the last 90 days. 6.90% of the stock is currently owned by company insiders.

Element Solutions Trading Down 1.0%

Shares of ESI stock opened at $26.20 on Wednesday. The company’s fifty day simple moving average is $25.84 and its two-hundred day simple moving average is $23.55. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30. Element Solutions Inc. has a 1 year low of $16.77 and a 1 year high of $29.78. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.75 and a beta of 1.31.

Element Solutions (NYSE:ESI) last issued its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Element Solutions had a net margin of 9.66% and a return on equity of 14.14%. The business had revenue of $656.10 million for the quarter, compared to analysts’ expectations of $645.13 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Element Solutions’s payout ratio is presently 32.00%.

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.