Element Solutions Inc. $ESI Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in shares of Element Solutions Inc. (NYSE:ESI) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,572 shares of the company’s stock after selling 15,661 shares during the quarter. Teacher Retirement System of Texas’ holdings in Element Solutions were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ESI. American National Bank & Trust purchased a new position in Element Solutions during the second quarter worth about $36,000. SVB Wealth LLC acquired a new stake in shares of Element Solutions during the 1st quarter worth approximately $37,000. Fifth Third Bancorp raised its position in shares of Element Solutions by 462.5% during the 2nd quarter. Fifth Third Bancorp now owns 2,160 shares of the company’s stock valued at $49,000 after buying an additional 1,776 shares during the period. Eagle Bay Advisors LLC lifted its holdings in Element Solutions by 940.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company’s stock valued at $52,000 after acquiring an additional 2,060 shares during the last quarter. Finally, LRI Investments LLC lifted its holdings in Element Solutions by 71.4% in the second quarter. LRI Investments LLC now owns 2,887 shares of the company’s stock valued at $65,000 after acquiring an additional 1,203 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Insider Transactions at Element Solutions

In other news, EVP Carey J. Dorman sold 40,725 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the sale, the executive vice president directly owned 214,837 shares in the company, valued at approximately $5,727,554.42. This trade represents a 15.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Matthew Liebowitz sold 50,000 shares of Element Solutions stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total value of $1,327,500.00. Following the completion of the transaction, the executive vice president owned 57,353 shares of the company’s stock, valued at approximately $1,522,722.15. This trade represents a 46.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 168,399 shares of company stock valued at $4,492,561. 6.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ESI shares. Mizuho set a $30.00 target price on Element Solutions in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Element Solutions in a report on Wednesday, October 8th. Bank of America upped their target price on shares of Element Solutions from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. UBS Group lifted their price target on shares of Element Solutions from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $26.77 on Friday. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 1.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.30. The business has a 50-day moving average of $26.00 and a 200 day moving average of $23.90. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $645.13 million. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.08 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.32 annualized dividend and a dividend yield of 1.2%. Element Solutions’s payout ratio is 32.32%.

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.