Gallo Partners LP Takes $2.21 Million Position in Element Solutions Inc (NYSE:ESI)

Gallo Partners LP purchased a new stake in shares of Element Solutions Inc (NYSE:ESI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 86,719 shares of the company’s stock, valued at approximately $2,205,000. Element Solutions makes up approximately 1.6% of Gallo Partners LP’s holdings, making the stock its 28th biggest holding.

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

Element Solutions Stock Performance

Shares of NYSE ESI opened at $20.29 on Wednesday. Element Solutions Inc has a 1-year low of $16.77 and a 1-year high of $29.78. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.30 and a beta of 1.28. The stock’s 50-day moving average is $22.55 and its 200 day moving average is $25.20. 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 results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The company had revenue of $593.70 million during the quarter, compared to analyst estimates of $576.73 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. On average, sell-side analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently disclosed 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 of this dividend was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 1.58%. Element Solutions’s dividend payout ratio (DPR) is 26.89%.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of the business’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 sale, the director now owns 109,100 shares of the company’s stock, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial upgraded shares of Element Solutions from a “hold” rating to a “buy” rating and cut their price objective for the company from $28.00 to $24.00 in a research report on Monday, April 14th. Barclays decreased their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets dropped their price objective on Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. KeyCorp decreased their target price on Element Solutions from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Finally, UBS Group dropped their price target on Element Solutions from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.38.

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.