Bessemer Group Inc. Sells 103,911 Shares of Element Solutions Inc (NYSE:ESI)

Bessemer Group Inc. reduced its holdings in Element Solutions Inc (NYSE:ESI) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 895,442 shares of the company’s stock after selling 103,911 shares during the quarter. Bessemer Group Inc. owned approximately 0.37% of Element Solutions worth $22,772,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quantinno Capital Management LP increased its stake in shares of Element Solutions by 27.3% in the third quarter. Quantinno Capital Management LP now owns 64,332 shares of the company’s stock valued at $1,747,000 after buying an additional 13,782 shares in the last quarter. State Street Corp increased its position in Element Solutions by 5.6% in the 3rd quarter. State Street Corp now owns 4,319,570 shares of the company’s stock valued at $117,320,000 after acquiring an additional 230,793 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Element Solutions in the third quarter worth about $374,000. Public Employees Retirement System of Ohio lifted its position in shares of Element Solutions by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 338,904 shares of the company’s stock worth $9,205,000 after purchasing an additional 2,277 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Element Solutions by 96.0% in the third quarter. Barclays PLC now owns 108,174 shares of the company’s stock valued at $2,938,000 after purchasing an additional 52,973 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Stock Performance

Shares of ESI stock opened at $17.99 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. Element Solutions Inc has a 52 week low of $16.77 and a 52 week high of $29.78. The company’s 50 day moving average price is $24.32 and its two-hundred day moving average price is $25.85. The company has a market capitalization of $4.36 billion, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The business had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $598.24 million. On average, analysts expect that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio is presently 31.37%.

Insiders Place Their Bets

In other news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the sale, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESI. Bank of America restated a “neutral” rating and set a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays lowered their target price on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets increased their price target on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Truist Financial began coverage on Element Solutions in a report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.00.

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.