Quinn Opportunity Partners LLC Invests $928,000 in Element Solutions Inc (NYSE:ESI)

Quinn Opportunity Partners LLC purchased a new stake in Element Solutions Inc (NYSE:ESI) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 36,500 shares of the company’s stock, valued at approximately $928,000.

Other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. lifted 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 valued at $287,000 after buying an additional 430 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Element Solutions by 0.8% in the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock valued at $1,698,000 after acquiring an additional 545 shares in the last quarter. Equitable Trust Co. boosted its stake in Element Solutions by 1.7% in the 4th quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock worth $867,000 after purchasing an additional 576 shares during the period. Treasurer of the State of North Carolina grew its position in Element Solutions by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company’s stock worth $2,502,000 after purchasing an additional 610 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Element Solutions by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company’s stock valued at $169,000 after purchasing an additional 684 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ESI. BMO Capital Markets raised their target price on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Barclays decreased their price objective on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. KeyCorp initiated coverage on Element Solutions in a report on Thursday, April 3rd. They issued an “overweight” rating and a $29.00 target price on the stock. Truist Financial initiated coverage on shares of Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Four research 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 stock. According to MarketBeat.com, Element Solutions currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Element Solutions Price Performance

NYSE ESI opened at $18.22 on Friday. Element Solutions Inc has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The stock’s 50-day moving average is $24.18 and its two-hundred day moving average is $25.79. The firm has a market cap of $4.42 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business 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%. On average, analysts anticipate 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. Shareholders 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 yield of 1.76%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio is 31.37%.

Insider Buying and Selling at Element Solutions

In other news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction on 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 owns 109,100 shares in the company, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.90% of the company’s stock.

Element Solutions 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.