KLP Kapitalforvaltning AS Buys New Shares in Element Solutions Inc (NYSE:ESI)

KLP Kapitalforvaltning AS purchased a new position in Element Solutions Inc (NYSE:ESI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 47,000 shares of the company’s stock, valued at approximately $1,195,000.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Element Solutions in the third quarter worth approximately $25,000. TD Private Client Wealth LLC acquired a new position in shares of Element Solutions in the 4th quarter valued at $27,000. First Horizon Advisors Inc. grew its stake in shares of Element Solutions by 610.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $29,000 after buying an additional 971 shares during the period. Trust Co. of Vermont acquired a new stake in shares of Element Solutions during the 4th quarter worth $43,000. Finally, Parkside Financial Bank & Trust purchased a new position in shares of Element Solutions in the 4th quarter worth $48,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Element Solutions Stock Down 2.7 %

Shares of NYSE:ESI opened at $22.96 on Friday. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The company has a 50 day moving average of $25.67 and a two-hundred day moving average of $26.31. Element Solutions Inc has a 52-week low of $22.71 and a 52-week high of $29.78. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $598.24 million. As a group, analysts forecast that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Monday, March 3rd. Element Solutions’s payout ratio is 31.37%.

Analyst Upgrades and Downgrades

ESI has been the subject of a number of research reports. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Barclays decreased their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Bank of America reissued 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. Truist Financial initiated coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.14.

Insider Buying and Selling

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of Element Solutions stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the sale, the director now directly owns 109,100 shares in the company, valued at $2,847,510. The trade was a 94.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.90% of the company’s stock.

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.