Bessemer Group Inc. Acquires 244,794 Shares of Element Solutions Inc. $ESI

Bessemer Group Inc. lifted its holdings in Element Solutions Inc. (NYSE:ESI) by 30.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,041,454 shares of the company’s stock after acquiring an additional 244,794 shares during the period. Bessemer Group Inc. owned approximately 0.43% of Element Solutions worth $23,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ESI. Gates Capital Management Inc. raised its position in shares of Element Solutions by 101.9% in the 1st quarter. Gates Capital Management Inc. now owns 5,424,745 shares of the company’s stock worth $122,653,000 after acquiring an additional 2,738,250 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Element Solutions by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company’s stock worth $563,732,000 after acquiring an additional 2,688,056 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Element Solutions by 131.0% in the 1st quarter. AQR Capital Management LLC now owns 2,861,197 shares of the company’s stock worth $64,692,000 after acquiring an additional 1,622,819 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Element Solutions by 1,431.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,143,869 shares of the company’s stock worth $25,863,000 after acquiring an additional 1,069,160 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Element Solutions in the 1st quarter worth about $20,041,000. 92.32% of the stock is owned by institutional investors.

Insider Buying and Selling at Element Solutions

In other Element Solutions news, EVP Matthew Liebowitz sold 50,000 shares of Element Solutions stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the completion of the transaction, the executive vice president owned 57,353 shares in the company, valued at approximately $1,522,722.15. The trade was a 46.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Edward Capps sold 77,674 shares of Element Solutions stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.77, for a total value of $2,079,332.98. Following the transaction, the executive vice president owned 609,790 shares of the company’s stock, valued at $16,324,078.30. This trade represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 168,399 shares of company stock worth $4,492,561. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. KeyCorp lifted their price objective on Element Solutions from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Bank of America lifted their price objective on Element Solutions from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Mizuho boosted their target price on Element Solutions from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $27.00 target price (up from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.75.

Element Solutions Stock Performance

Shares of Element Solutions stock opened at $26.20 on Wednesday. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.75 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30. Element Solutions Inc. has a one year low of $16.77 and a one year high of $29.78. The business has a 50-day simple moving average of $25.84 and a 200 day simple moving average of $23.55.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, research analysts anticipate that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Element Solutions’s payout ratio is 32.00%.

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.