Element Solutions Inc. $ESI Stock Holdings Increased by Jennison Associates LLC

Jennison Associates LLC raised its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 4.7% during the 2nd quarter, Holdings Channel reports. The fund owned 1,334,431 shares of the company’s stock after purchasing an additional 59,588 shares during the period. Jennison Associates LLC’s holdings in Element Solutions were worth $30,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. KBC Group NV lifted its position in Element Solutions by 7.1% in the first quarter. KBC Group NV now owns 10,319 shares of the company’s stock worth $233,000 after purchasing an additional 681 shares during the period. Amalgamated Bank lifted its position in Element Solutions by 479.7% in the first quarter. Amalgamated Bank now owns 67,594 shares of the company’s stock worth $1,528,000 after purchasing an additional 55,933 shares during the period. New York State Teachers Retirement System lifted its position in Element Solutions by 1,961.2% in the first quarter. New York State Teachers Retirement System now owns 70,328 shares of the company’s stock worth $1,590,000 after purchasing an additional 66,916 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in Element Solutions in the first quarter worth approximately $261,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Element Solutions in the first quarter worth approximately $1,153,000. Institutional investors own 92.32% of the company’s stock.

Insider Transactions at Element Solutions

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

Element Solutions Price Performance

Shares of NYSE:ESI opened at $25.96 on Friday. The company’s fifty day moving average is $25.89 and its two-hundred day moving average is $23.62. The company has a quick ratio of 3.30, a current ratio of 4.05 and a debt-to-equity ratio of 0.61. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78. The company has a market cap of $6.27 billion, a P/E ratio of 26.22, a price-to-earnings-growth ratio of 1.74 and a beta of 1.31.

Element Solutions (NYSE:ESI) last announced its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. The company had revenue of $656.10 million for the quarter, compared to the consensus estimate of $645.13 million. During the same period in the previous year, the business earned $0.39 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities analysts expect that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

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

Analyst Upgrades and Downgrades

ESI has been the subject of a number of research analyst reports. Truist Financial upped their target price on Element Solutions from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp upped their target price on Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday. Fermium Researc upgraded Element Solutions to a “strong-buy” rating in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. Finally, Mizuho set a $30.00 price target on Element Solutions in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Element Solutions presently has an average rating of “Moderate Buy” and an average price target of $30.25.

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.