Kornitzer Capital Management Inc. KS Sells 52,500 Shares of Element Solutions Inc. $ESI

Kornitzer Capital Management Inc. KS reduced its holdings in Element Solutions Inc. (NYSE:ESI) by 54.2% during the 3rd quarter, Holdings Channel reports. The fund owned 44,300 shares of the company’s stock after selling 52,500 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Element Solutions were worth $1,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Scopus Asset Management L.P. raised its position in Element Solutions by 134.6% in the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after purchasing an additional 1,965,691 shares during the last quarter. Ilex Capital Partners UK LLP increased its stake in shares of Element Solutions by 61.7% in the second quarter. Ilex Capital Partners UK LLP now owns 4,656,299 shares of the company’s stock valued at $105,465,000 after buying an additional 1,777,265 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of Element Solutions in the second quarter valued at $28,031,000. SG Capital Management LLC bought a new position in shares of Element Solutions in the second quarter valued at about $26,257,000. Finally, Albar Capital Partners LLP acquired a new position in Element Solutions during the 2nd quarter worth about $23,845,000. 92.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, insider Matthew Liebowitz sold 37,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $26.60, for a total value of $984,200.00. Following the transaction, the insider owned 117,393 shares of the company’s stock, valued at approximately $3,122,653.80. This represents a 23.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 292,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $27.00, for a total value of $7,884,000.00. Following the transaction, the director owned 306,880 shares in the company, valued at approximately $8,285,760. This trade represents a 48.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Element Solutions from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. BMO Capital Markets cut shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Bank of America raised their price target on shares of Element Solutions from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday. Mizuho dropped their price objective on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Element Solutions Trading Up 1.9%

ESI opened at $29.86 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.05 and a quick ratio of 3.28. The company has a market cap of $7.22 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.28. The firm has a 50 day simple moving average of $26.75 and a 200 day simple moving average of $25.91. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $30.21.

Element Solutions (NYSE:ESI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. The firm had revenue of $656.10 million for the quarter, compared to analysts’ expectations of $645.13 million. During the same period last year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. Element Solutions’s dividend payout ratio is 32.32%.

Element Solutions Company Profile

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.