Balyasny Asset Management L.P. Has $6.92 Million Stock Position in Element Solutions Inc (NYSE:ESI)

Balyasny Asset Management L.P. lifted its position in shares of Element Solutions Inc (NYSE:ESI) by 132.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,973 shares of the company’s stock after purchasing an additional 154,842 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.11% of Element Solutions worth $6,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in Element Solutions during the fourth quarter worth $27,000. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 971 shares in the last quarter. Trust Co. of Vermont bought a new stake in Element Solutions in the fourth quarter valued at about $43,000. Parkside Financial Bank & Trust acquired a new position in Element Solutions in the fourth quarter worth about $48,000. Finally, UMB Bank n.a. lifted its stake in Element Solutions by 98.8% during the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock worth $49,000 after purchasing an additional 949 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This trade represents a 94.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.90% of the company’s stock.

Element Solutions Stock Down 0.8 %

NYSE ESI opened at $21.17 on Friday. The stock has a market capitalization of $5.13 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 2.30 and a beta of 1.24. Element Solutions Inc has a 52 week low of $16.77 and a 52 week high of $29.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. The stock has a fifty day moving average of $21.75 and a 200-day moving average of $24.96.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The firm had revenue of $593.70 million during the quarter, compared to analysts’ expectations of $576.73 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. On average, equities research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.08 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.51%. Element Solutions’s payout ratio is presently 26.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ESI shares. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. BMO Capital Markets dropped their price objective on Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and reduced their target price for the company from $28.00 to $24.00 in a research note on Monday, April 14th. Barclays cut their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Bank of America raised shares of Element Solutions from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $29.00 to $24.00 in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.38.

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.