Element Solutions Inc (NYSE:ESI) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Element Solutions Inc (NYSE:ESI) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 907,736 shares of the company’s stock after selling 35,954 shares during the quarter. Voya Investment Management LLC’s holdings in Element Solutions were worth $23,084,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of ESI. JPMorgan Chase & Co. increased its holdings in shares of Element Solutions by 549.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after purchasing an additional 1,369,981 shares in the last quarter. FIL Ltd purchased a new position in Element Solutions in the fourth quarter valued at $29,818,000. Boston Partners purchased a new position in Element Solutions in the fourth quarter valued at $24,169,000. Raymond James Financial Inc. purchased a new stake in shares of Element Solutions during the 4th quarter worth about $13,573,000. Finally, Jennison Associates LLC boosted its stake in shares of Element Solutions by 63.3% during the 4th quarter. Jennison Associates LLC now owns 1,316,244 shares of the company’s stock worth $33,472,000 after acquiring an additional 510,332 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $20.24 on Friday. The business’s 50 day moving average price is $22.84 and its 200 day moving average price is $25.28. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.30 and a beta of 1.28. 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 one year low of $16.77 and a one year high of $29.78.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. The business had revenue of $593.70 million for the quarter, compared to analyst estimates of $576.73 million. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, research analysts predict that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.08 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.32 annualized dividend and a yield of 1.58%. Element Solutions’s payout ratio is 26.89%.

Analyst Upgrades and Downgrades

ESI has been the subject of a number of analyst reports. KeyCorp reduced their price target on Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Monday, April 14th. StockNews.com lowered Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Truist Financial raised shares of Element Solutions from a “hold” rating to a “buy” rating and cut their price target for the stock from $28.00 to $24.00 in a report on Monday, April 14th. Bank of America raised shares of Element Solutions from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $29.00 to $24.00 in a report on Tuesday, April 15th. Finally, UBS Group cut their target price on shares of Element Solutions from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.38.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares in the company, valued at approximately $2,847,510. This represents a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.

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.