QRG Capital Management Inc. Sells 27,857 Shares of Element Solutions Inc. $ESI

QRG Capital Management Inc. lowered its position in shares of Element Solutions Inc. (NYSE:ESI) by 76.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,711 shares of the company’s stock after selling 27,857 shares during the period. QRG Capital Management Inc.’s holdings in Element Solutions were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. HB Wealth Management LLC acquired a new stake in shares of Element Solutions in the first quarter valued at approximately $205,000. Private Advisor Group LLC grew its position in Element Solutions by 7.6% during the first quarter. Private Advisor Group LLC now owns 13,915 shares of the company’s stock worth $475,000 after buying an additional 984 shares in the last quarter. Elevation Point Wealth Partners LLC increased its stake in Element Solutions by 33.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 19,873 shares of the company’s stock worth $678,000 after acquiring an additional 5,030 shares during the period. Keybank National Association OH increased its stake in Element Solutions by 30.7% during the 1st quarter. Keybank National Association OH now owns 17,314 shares of the company’s stock worth $591,000 after acquiring an additional 4,069 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Element Solutions by 6.0% in the 1st quarter. Pictet Asset Management Holding SA now owns 35,017 shares of the company’s stock valued at $1,195,000 after acquiring an additional 1,975 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Price Performance

Shares of Element Solutions stock traded down $0.69 during trading on Friday, reaching $39.88. 5,994,184 shares of the company’s stock were exchanged, compared to its average volume of 5,765,437. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. Element Solutions Inc. has a 1-year low of $22.63 and a 1-year high of $49.25. The company has a market cap of $9.72 billion, a P/E ratio of 64.32, a PEG ratio of 1.39 and a beta of 1.23. The firm’s 50-day moving average price is $43.09 and its 200 day moving average price is $35.98.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $840.00 million for the quarter, compared to analyst estimates of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.Element Solutions’s revenue was up 41.5% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. As a group, research analysts anticipate that Element Solutions Inc. will post 1.79 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.8%. Element Solutions’s payout ratio is 51.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ESI shares. Seaport Research Partners restated a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a research report on Tuesday, May 5th. Freedom Capital raised shares of Element Solutions to a “strong-buy” rating in a research report on Friday, March 27th. UBS Group increased their price objective on shares of Element Solutions to $52.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Mizuho raised their target price on shares of Element Solutions from $47.00 to $54.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Truist Financial boosted their target price on shares of Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $44.29.

About Element Solutions

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.