ExodusPoint Capital Management LP Has $7.34 Million Stake in Element Solutions Inc (NYSE:ESI)

ExodusPoint Capital Management LP boosted its holdings in Element Solutions Inc (NYSE:ESI) by 1,078.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 288,803 shares of the company’s stock after buying an additional 264,301 shares during the period. ExodusPoint Capital Management LP owned approximately 0.12% of Element Solutions worth $7,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ESI. Park Avenue Securities LLC grew its position in shares of Element Solutions by 79.0% during the 4th quarter. Park Avenue Securities LLC now owns 60,612 shares of the company’s stock worth $1,541,000 after buying an additional 26,753 shares during the period. Proficio Capital Partners LLC acquired a new position in Element Solutions during the fourth quarter valued at approximately $423,000. Charles Schwab Investment Management Inc. raised its holdings in Element Solutions by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,894 shares of the company’s stock worth $59,224,000 after purchasing an additional 29,253 shares during the period. Principal Financial Group Inc. raised its holdings in Element Solutions by 18.6% in the fourth quarter. Principal Financial Group Inc. now owns 74,709 shares of the company’s stock worth $1,900,000 after purchasing an additional 11,702 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Element Solutions in the 4th quarter valued at $433,000. 92.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ESI has been the topic of several recent analyst reports. Barclays reduced their target price on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Truist Financial initiated coverage on Element Solutions in a research report on Tuesday, January 28th. They issued a “hold” rating and a $28.00 price objective for the company. Bank of America restated a “neutral” rating and set a $28.00 target price (down from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. BMO Capital Markets upped their price target on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Element Solutions has an average rating of “Moderate Buy” and a consensus price target of $30.00.

Element Solutions Stock Performance

Shares of ESI opened at $18.24 on Friday. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.30 and a beta of 1.28. Element Solutions Inc has a 12 month low of $17.72 and a 12 month high of $29.78. The firm has a fifty day simple moving average of $25.18 and a 200 day simple moving average of $26.16. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. Research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is 31.37%.

Insiders Place Their Bets

In related news, Director Martin E. Franklin sold 2,000,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of the transaction, the director now directly owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.90% of the company’s stock.

Element Solutions Company 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.