Locust Wood Capital Advisers LLC lifted its stake in shares of Element Solutions Inc (NYSE:ESI – Free Report) by 11.4% during the 4th quarter, HoldingsChannel reports. The firm owned 3,174,466 shares of the company’s stock after purchasing an additional 325,297 shares during the quarter. Element Solutions comprises 2.8% of Locust Wood Capital Advisers LLC’s investment portfolio, making the stock its 22nd biggest position. Locust Wood Capital Advisers LLC’s holdings in Element Solutions were worth $80,727,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its stake in Element Solutions by 4.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company’s stock worth $287,000 after acquiring an additional 430 shares during the period. Arizona State Retirement System lifted its position in shares of Element Solutions by 0.8% in the 4th quarter. Arizona State Retirement System now owns 66,761 shares of the company’s stock valued at $1,698,000 after acquiring an additional 545 shares in the last quarter. Equitable Trust Co. grew its stake in Element Solutions by 1.7% in the 4th quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock valued at $867,000 after buying an additional 576 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Element Solutions by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company’s stock valued at $169,000 after acquiring an additional 684 shares in the last quarter. Finally, Forte Capital LLC ADV raised its stake in shares of Element Solutions by 6.9% in the fourth quarter. Forte Capital LLC ADV now owns 12,800 shares of the company’s stock worth $326,000 after acquiring an additional 830 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Element Solutions
In other news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.90% of the stock is owned by corporate insiders.
Element Solutions Stock Performance
Element Solutions (NYSE:ESI – Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. As a group, equities research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current fiscal year.
Element Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 1.65%. Element Solutions’s dividend payout ratio is presently 31.37%.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Truist Financial initiated coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective on the stock. Finally, BMO Capital Markets raised their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Element Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $30.00.
Check Out Our Latest Research Report on ESI
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.
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