Royce & Associates LP Cuts Position in Element Solutions Inc (NYSE:ESI)

Royce & Associates LP lowered its position in Element Solutions Inc (NYSE:ESI) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,399,221 shares of the company’s stock after selling 63,349 shares during the quarter. Element Solutions makes up about 0.6% of Royce & Associates LP’s holdings, making the stock its 23rd biggest holding. Royce & Associates LP owned about 0.99% of Element Solutions worth $65,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Element Solutions during the second quarter worth $31,000. EverSource Wealth Advisors LLC lifted its position in shares of Element Solutions by 39.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after buying an additional 864 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock valued at $88,000 after buying an additional 3,212 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Element Solutions in the 1st quarter valued at $78,000. Finally, Signaturefd LLC raised its stake in Element Solutions by 13.8% during the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after acquiring an additional 448 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Price Performance

Element Solutions stock opened at $28.24 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77. The business has a 50 day simple moving average of $26.42 and a 200-day simple moving average of $25.88. Element Solutions Inc has a 12 month low of $20.17 and a 12 month high of $29.16. The stock has a market capitalization of $6.84 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. Element Solutions’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Equities analysts predict that Element Solutions Inc will post 1.44 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, August 30th. Element Solutions’s dividend payout ratio is presently 28.83%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Seaport Res Ptn upgraded Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. BMO Capital Markets raised their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price target on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Element Solutions Company 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.