Geode Capital Management LLC Has $90.46 Million Position in Element Solutions Inc (NYSE:ESI)

Geode Capital Management LLC lifted its position in shares of Element Solutions Inc (NYSE:ESI) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 3,555,852 shares of the company’s stock after buying an additional 14,339 shares during the quarter. Geode Capital Management LLC’s holdings in Element Solutions were worth $90,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ESI. JPMorgan Chase & Co. grew its stake in 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 acquiring an additional 1,369,981 shares during the period. Boston Partners bought a new position in shares of Element Solutions during the 4th quarter valued at about $24,169,000. Raymond James Financial Inc. acquired a new position in shares of Element Solutions in the 4th quarter valued at approximately $13,573,000. Jennison Associates LLC increased its stake in Element Solutions by 63.3% during the 4th quarter. Jennison Associates LLC now owns 1,316,244 shares of the company’s stock worth $33,472,000 after purchasing an additional 510,332 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Element Solutions by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company’s stock valued at $565,685,000 after buying an additional 249,280 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. KeyCorp started coverage on Element Solutions in a report on Thursday, April 3rd. They set an “overweight” rating and a $29.00 price objective for the company. Truist Financial started coverage on Element Solutions in a research note on Tuesday, January 28th. They issued a “hold” rating and a $28.00 target price on the stock. BMO Capital Markets raised their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Finally, Barclays cut their price objective on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.00.

Insider Transactions at Element Solutions

In other Element Solutions 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 sale, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.90% of the stock is currently owned by insiders.

Element Solutions Trading Down 7.1 %

Shares of NYSE:ESI opened at $17.99 on Friday. The business’s 50 day simple moving average is $24.32 and its 200 day simple moving average is $25.85. Element Solutions Inc has a 1 year low of $16.77 and a 1 year high of $29.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. The company has a market capitalization of $4.36 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.30 and a beta of 1.28.

Element Solutions (NYSE:ESI) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. On average, research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is presently 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.