Wellington Management Group LLP Has $162.35 Million Position in Element Solutions Inc (NYSE:ESI)

Wellington Management Group LLP trimmed its position in shares of Element Solutions Inc (NYSE:ESI) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,384,362 shares of the company’s stock after selling 268,578 shares during the period. Wellington Management Group LLP owned about 2.63% of Element Solutions worth $162,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA lifted its holdings in shares of Element Solutions by 11.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 33,140 shares of the company’s stock valued at $843,000 after buying an additional 3,271 shares during the last quarter. Homestead Advisers Corp bought a new stake in Element Solutions in the fourth quarter worth approximately $1,790,000. JPMorgan Chase & Co. increased its stake in shares of Element Solutions by 80.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company’s stock worth $74,282,000 after purchasing an additional 1,301,602 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Element Solutions during the 4th quarter valued at $2,135,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Element Solutions in the 4th quarter valued at $227,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Insider Activity

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was 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 directly owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. The trade was 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 Stock Up 0.6 %

Shares of NYSE ESI opened at $22.71 on Thursday. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. Element Solutions Inc has a 12-month low of $22.13 and a 12-month high of $29.78. The firm’s 50-day simple moving average is $25.46 and its 200 day simple moving average is $26.25.

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

Element Solutions Announces Dividend

The company also recently announced 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 was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.41%. Element Solutions’s payout ratio is currently 31.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ESI. BMO Capital Markets boosted their price target on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Truist Financial assumed coverage on Element Solutions in a research note on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective on the stock. Bank of America restated a “neutral” rating and set a $28.00 target price (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Barclays reduced their price objective on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

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.