Corient Private Wealth LLC Trims Position in Element Solutions Inc (NYSE:ESI)

Corient Private Wealth LLC lowered its position in Element Solutions Inc (NYSE:ESI) by 75.3% in the fourth quarter, HoldingsChannel reports. The firm owned 9,114 shares of the company’s stock after selling 27,855 shares during the period. Corient Private Wealth LLC’s holdings in Element Solutions were worth $232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESI. Royce & Associates LP raised its position in Element Solutions by 1.7% in the fourth quarter. Royce & Associates LP now owns 2,440,533 shares of the company’s stock valued at $62,063,000 after purchasing an additional 41,312 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Element Solutions by 108.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 34,360 shares of the company’s stock worth $874,000 after purchasing an additional 17,879 shares during the last quarter. Natixis Advisors LLC raised its holdings in Element Solutions by 1.8% in the 4th quarter. Natixis Advisors LLC now owns 1,065,504 shares of the company’s stock valued at $27,096,000 after buying an additional 19,055 shares during the period. Swiss National Bank lifted its position in Element Solutions by 0.8% in the fourth quarter. Swiss National Bank now owns 452,389 shares of the company’s stock valued at $11,504,000 after buying an additional 3,500 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Element Solutions by 4.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock worth $287,000 after buying an additional 430 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Element Solutions

In related 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 transaction of $52,200,000.00. Following the completion of the transaction, the director now owns 109,100 shares in the company, valued at approximately $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 is accessible through the SEC website. 7.90% of the stock is owned by corporate insiders.

Element Solutions Stock Down 0.2 %

Element Solutions stock opened at $22.56 on Wednesday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 22.12, a P/E/G ratio of 2.30 and a beta of 1.29. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a twelve month low of $22.13 and a twelve month high of $29.78. The stock’s fifty day simple moving average is $25.53 and its 200-day simple moving average is $26.27.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. As a group, equities 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 paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.42%. Element Solutions’s payout ratio is 31.37%.

Analyst Ratings Changes

ESI has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Barclays decreased their price target on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Truist Financial assumed coverage on Element Solutions in a research note on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective for the company. Finally, StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

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.