Wellington Management Group LLP Sells 268,578 Shares of Element Solutions Inc (NYSE:ESI)

Wellington Management Group LLP lessened its stake in Element Solutions Inc (NYSE:ESI) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,384,362 shares of the company’s stock after selling 268,578 shares during the quarter. Wellington Management Group LLP’s holdings in Element Solutions were worth $162,354,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Element Solutions by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company’s stock worth $565,685,000 after buying an additional 249,280 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Element Solutions by 4.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company’s stock worth $132,468,000 after acquiring an additional 209,441 shares during the last quarter. State Street Corp grew its holdings in Element Solutions by 5.6% during the third quarter. State Street Corp now owns 4,319,570 shares of the company’s stock valued at $117,320,000 after purchasing an additional 230,793 shares during the period. Geode Capital Management LLC increased its stake in Element Solutions by 0.5% in the third quarter. Geode Capital Management LLC now owns 3,541,513 shares of the company’s stock valued at $96,216,000 after purchasing an additional 18,791 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Element Solutions by 80.4% in the fourth quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company’s stock worth $74,282,000 after purchasing an additional 1,301,602 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Price Performance

Shares of ESI opened at $22.71 on Thursday. 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 Inc has a twelve month low of $22.13 and a twelve month high of $29.78. The stock has a market capitalization of $5.51 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.30 and a beta of 1.29. The company has a 50 day moving average of $25.46 and a 200-day moving average of $26.25.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. As a group, equities research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, March 3rd. Element Solutions’s payout ratio is presently 31.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ESI shares. Barclays decreased their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report 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 target price for the company. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BMO Capital Markets boosted their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Bank of America restated a “neutral” rating and set a $28.00 target price (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.14.

Insiders Place Their Bets

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

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.