ExodusPoint Capital Management LP Acquires 264,301 Shares of Element Solutions Inc (NYSE:ESI)

ExodusPoint Capital Management LP raised its holdings in Element Solutions Inc (NYSE:ESI) by 1,078.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 288,803 shares of the company’s stock after purchasing an additional 264,301 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Element Solutions were worth $7,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Element Solutions by 2.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,020 shares of the company’s stock worth $1,413,000 after buying an additional 1,137 shares during the last quarter. Captrust Financial Advisors raised its holdings in Element Solutions by 81.3% in the 3rd quarter. Captrust Financial Advisors now owns 24,540 shares of the company’s stock valued at $667,000 after acquiring an additional 11,004 shares during the period. Centiva Capital LP acquired a new stake in Element Solutions during the third quarter worth approximately $542,000. Quarry LP boosted its holdings in shares of Element Solutions by 432.6% during the third quarter. Quarry LP now owns 6,029 shares of the company’s stock worth $164,000 after acquiring an additional 4,897 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of Element Solutions by 27.3% in the third quarter. Quantinno Capital Management LP now owns 64,332 shares of the company’s stock valued at $1,747,000 after purchasing an additional 13,782 shares during the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESI has been the subject of several research reports. Barclays dropped their price target 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 report on Tuesday, January 14th. Truist Financial initiated coverage on shares of Element Solutions in a research note on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price target on the stock. KeyCorp started coverage on shares of Element Solutions in a research note on Thursday. They issued an “overweight” rating and a $29.00 price objective for the company. Finally, StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Buying and Selling

In other news, Director Martin E. Franklin sold 2,000,000 shares of the 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 completion of the transaction, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This represents a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.90% of the stock is owned by corporate insiders.

Element Solutions Price Performance

Shares of NYSE:ESI opened at $18.24 on Friday. The firm has a 50 day moving average of $25.18 and a 200-day moving average of $26.16. Element Solutions Inc has a 12 month low of $17.72 and a 12 month high of $29.78. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $4.42 billion, a PE ratio of 17.88, a PEG ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $598.24 million. On average, equities research analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. Element Solutions’s dividend payout ratio is currently 31.37%.

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.