ExodusPoint Capital Management LP Sells 315,668 Shares of Element Solutions Inc (NYSE:ESI)
ExodusPoint Capital Management LP trimmed its stake in shares of Element Solutions Inc (NYSE:ESI – Free Report) by 86.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,991 shares of the company’s stock after selling 315,668 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Element Solutions were worth $921,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Element Solutions by 1.0% during the third quarter. Vanguard Group Inc. now owns 22,092,230 shares of the company’s stock worth $359,441,000 after purchasing an additional 214,544 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Element Solutions by 1.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,138,854 shares of the company’s stock worth $311,756,000 after purchasing an additional 163,426 shares during the period. FMR LLC boosted its position in Element Solutions by 5.9% during the first quarter. FMR LLC now owns 14,663,724 shares of the company’s stock worth $283,157,000 after purchasing an additional 810,879 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Element Solutions by 2.9% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,666,863 shares of the company’s stock worth $90,117,000 after purchasing an additional 133,323 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Element Solutions by 5.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,385,139 shares of the company’s stock valued at $84,194,000 after acquiring an additional 206,952 shares during the period. 91.05% of the stock is owned by institutional investors.
Element Solutions Stock Up 1.4 %
ESI stock opened at $21.25 on Friday. The company has a market cap of $5.13 billion, a PE ratio of 96.59, a price-to-earnings-growth ratio of 3.65 and a beta of 1.30. The business has a 50-day simple moving average of $19.39 and a 200 day simple moving average of $19.44. Element Solutions Inc has a 52 week low of $17.08 and a 52 week high of $21.90. The company has a quick ratio of 2.59, a current ratio of 3.45 and a debt-to-equity ratio of 0.90.
Element Solutions (NYSE:ESI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $599.30 million during the quarter, compared to the consensus estimate of $624.50 million. Element Solutions had a return on equity of 13.15% and a net margin of 2.30%. Sell-side analysts anticipate that Element Solutions Inc will post 1.29 EPS for the current fiscal year.
Element Solutions Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, November 30th. Element Solutions’s dividend payout ratio (DPR) is presently 145.45%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ESI. StockNews.com began coverage on shares of Element Solutions in a research report on Thursday, October 5th. They issued a “hold” rating for the company. TheStreet cut shares of Element Solutions from a “b” rating to a “c” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.40.
Get Our Latest Research Report on Element Solutions
Insiders Place Their Bets
In other Element Solutions news, Director Nichelle Maynard-Elliott sold 4,174 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $19.61, for a total transaction of $81,852.14. Following the completion of the transaction, the director now owns 24,789 shares of the company’s stock, valued at $486,112.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.
Element Solutions Profile (Free Report)
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.
Further Reading
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