Alberta Investment Management Corp Lowers Position in Element Solutions Inc (NYSE:ESI)

Alberta Investment Management Corp trimmed its position in shares of Element Solutions Inc (NYSE:ESI) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,031 shares of the company’s stock after selling 9,937 shares during the quarter. Alberta Investment Management Corp’s holdings in Element Solutions were worth $2,467,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ESI. Ilex Capital Partners UK LLP boosted its holdings in Element Solutions by 162.7% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock valued at $67,085,000 after purchasing an additional 1,529,607 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Element Solutions by 549.2% in the third quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after buying an additional 1,369,981 shares in the last quarter. Jennison Associates LLC acquired a new position in Element Solutions during the third quarter worth $21,889,000. Appian Way Asset Management LP purchased a new position in Element Solutions in the third quarter worth $14,553,000. Finally, Concentric Capital Strategies LP lifted its holdings in Element Solutions by 84.3% in the third quarter. Concentric Capital Strategies LP now owns 610,609 shares of the company’s stock valued at $16,584,000 after acquiring an additional 279,345 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Price Performance

Shares of NYSE:ESI opened at $27.07 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. The business’s fifty day moving average price is $25.78 and its two-hundred day moving average price is $26.32. The stock has a market cap of $6.56 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 2.24 and a beta of 1.30. Element Solutions Inc has a one year low of $21.42 and a one year high of $29.78.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $598.24 million. On average, analysts forecast that Element Solutions Inc will post 1.46 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.18%. Element Solutions’s dividend payout ratio (DPR) is presently 31.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. Bank of America reaffirmed a “neutral” rating and issued a $28.00 target price (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. Truist Financial initiated coverage on Element Solutions in a research note on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target on the stock. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets boosted 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. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

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.