Eventide Asset Management LLC Has $24.39 Million Stock Holdings in Element Solutions Inc. $ESI
by Scott Moore · The Cerbat GemEventide Asset Management LLC grew its position in Element Solutions Inc. (NYSE:ESI – Free Report) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,076,708 shares of the company’s stock after acquiring an additional 19,688 shares during the period. Eventide Asset Management LLC’s holdings in Element Solutions were worth $24,393,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. LPL Financial LLC lifted its holdings in Element Solutions by 8.7% during the first quarter. LPL Financial LLC now owns 129,474 shares of the company’s stock worth $2,927,000 after acquiring an additional 10,369 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Element Solutions by 107.2% during the first quarter. PNC Financial Services Group Inc. now owns 13,765 shares of the company’s stock worth $311,000 after purchasing an additional 7,121 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Element Solutions by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,391,832 shares of the company’s stock valued at $54,079,000 after purchasing an additional 62,938 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Element Solutions by 336.9% during the 1st quarter. Deutsche Bank AG now owns 74,778 shares of the company’s stock valued at $1,691,000 after purchasing an additional 57,662 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Element Solutions in the 1st quarter valued at approximately $20,041,000. Institutional investors own 92.32% of the company’s stock.
Element Solutions Stock Performance
Shares of ESI stock opened at $26.32 on Friday. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $27.97. The company’s fifty day simple moving average is $26.06 and its 200-day simple moving average is $24.81. The firm has a market cap of $6.37 billion, a PE ratio of 26.58, a P/E/G ratio of 1.38 and a beta of 1.33. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61.
Element Solutions (NYSE:ESI – Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share for the quarter, beating 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 business had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts expect that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.
Element Solutions Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Element Solutions’s dividend payout ratio is presently 32.32%.
Insider Buying and Selling
In other news, Director Ian G. H. Ashken sold 292,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the sale, the director owned 306,880 shares in the company, valued at $8,285,760. This represents a 48.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Matthew Liebowitz sold 50,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 57,353 shares of the company’s stock, valued at approximately $1,522,722.15. The trade was a 46.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 497,399 shares of company stock valued at $13,360,761. 6.90% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several brokerages have commented on ESI. Mizuho dropped their target price on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. KeyCorp increased their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. BMO Capital Markets boosted their price objective on shares of Element Solutions from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, October 8th. Finally, Bank of America increased their target price on Element Solutions from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. 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. According to MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $30.75.
Read Our Latest Stock Report on ESI
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.
Further Reading
- Five stocks we like better than Element Solutions
- How to buy stock: A step-by-step guide for beginners
- Synopsys Sees Bullish Shift as Ansys Integration Drives Growth
- What is Insider Trading? What You Can Learn from Insider Trading
- The Best Holiday Present You Can Give Yourself? Costco Stock
- Stock Splits, Do They Really Impact Investors?
- Why Zscaler Stock Could Be Ready to Bounce After a 30% Selloff
Want to see what other hedge funds are holding ESI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Element Solutions Inc. (NYSE:ESI – Free Report).