Gotham Asset Management LLC Has $6.29 Million Position in Element Solutions Inc (NYSE:ESI)

Gotham Asset Management LLC grew its stake in Element Solutions Inc (NYSE:ESI) by 46.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,277 shares of the company’s stock after purchasing an additional 78,755 shares during the period. Gotham Asset Management LLC owned about 0.10% of Element Solutions worth $6,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ESI. TD Private Client Wealth LLC acquired a new stake in shares of Element Solutions in the 4th quarter valued at approximately $27,000. First Horizon Advisors Inc. boosted its stake in shares of Element Solutions by 610.7% in the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $29,000 after purchasing an additional 971 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Element Solutions in the 4th quarter valued at approximately $43,000. Parkside Financial Bank & Trust acquired a new stake in shares of Element Solutions in the 4th quarter valued at approximately $48,000. Finally, UMB Bank n.a. boosted its stake in shares of Element Solutions by 98.8% in the 4th quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock valued at $49,000 after purchasing an additional 949 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESI. The Goldman Sachs Group dropped their price objective on shares of Element Solutions from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Monday, April 28th. BMO Capital Markets dropped their price objective on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and dropped their price objective for the company from $28.00 to $24.00 in a report on Monday, April 14th. Bank of America upgraded shares of Element Solutions from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Finally, KeyCorp dropped their price objective on shares of Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.38.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This represents a 94.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Element Solutions Stock Performance

NYSE:ESI opened at $22.78 on Wednesday. The company has a market capitalization of $5.52 billion, a PE ratio of 22.33, a P/E/G ratio of 2.30 and a beta of 1.24. The company has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $24.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.77 and a current ratio of 3.34. Element Solutions Inc has a fifty-two week low of $16.77 and a fifty-two week high of $29.78.

Element Solutions (NYSE:ESI) last released its earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $593.70 million during the quarter, compared to the consensus estimate of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Research analysts anticipate that Element Solutions Inc will post 1.45 earnings per share for the current year.

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.