Bayesian Capital Management LP Acquires New Shares in Element Solutions Inc (NYSE:ESI)

Bayesian Capital Management LP bought a new position in Element Solutions Inc (NYSE:ESI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,223 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESI. TD Private Client Wealth LLC bought a new position in Element Solutions during the fourth quarter valued at approximately $27,000. First Horizon Advisors Inc. raised its holdings in shares of Element Solutions by 610.7% during the 4th quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $29,000 after purchasing an additional 971 shares in the last quarter. Trust Co. of Vermont acquired a new stake in shares of Element Solutions in the 4th quarter valued at $43,000. Parkside Financial Bank & Trust bought a new stake in Element Solutions in the fourth quarter worth $48,000. Finally, UMB Bank n.a. increased its position in Element Solutions by 98.8% during the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock worth $49,000 after buying an additional 949 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. KeyCorp reduced their price target on Element Solutions from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Truist Financial raised Element Solutions from a “hold” rating to a “buy” rating and decreased their target price for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. Barclays dropped their price target on shares of Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. BMO Capital Markets decreased their price objective on shares of Element Solutions from $34.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Element Solutions from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Two research 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 stock. According to MarketBeat.com, Element Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $26.38.

Insider Activity

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 stock was 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 $2,847,510. This trade represents a 94.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.90% of the stock is currently owned by company insiders.

Element Solutions Trading Up 0.8 %

Shares of Element Solutions stock opened at $20.89 on Thursday. Element Solutions Inc has a 1 year low of $16.77 and a 1 year high of $29.78. The company’s fifty day simple moving average is $21.90 and its 200-day simple moving average is $25.01. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.30 and a beta of 1.24. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $593.70 million for 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 business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. As a group, sell-side analysts expect that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s payout ratio is presently 26.89%.

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.