Reinhart Partners LLC. Trims Stake in Element Solutions Inc. $ESI

Reinhart Partners LLC. trimmed its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,246,917 shares of the company’s stock after selling 407,185 shares during the quarter. Reinhart Partners LLC. owned about 0.52% of Element Solutions worth $31,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT grew its position in Element Solutions by 37.2% during the fourth quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock worth $6,603,000 after buying an additional 71,686 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Element Solutions by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock worth $207,822,000 after purchasing an additional 139,751 shares during the last quarter. Bessemer Group Inc. lifted its stake in Element Solutions by 18.6% during the third quarter. Bessemer Group Inc. now owns 1,234,941 shares of the company’s stock worth $31,083,000 after purchasing an additional 193,487 shares during the last quarter. American Century Companies Inc. lifted its stake in Element Solutions by 28.0% during the third quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock worth $105,609,000 after purchasing an additional 916,804 shares during the last quarter. Finally, Peak Financial Advisors LLC lifted its stake in Element Solutions by 282.4% during the fourth quarter. Peak Financial Advisors LLC now owns 79,797 shares of the company’s stock worth $1,994,000 after purchasing an additional 58,929 shares during the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESI has been the subject of several research analyst reports. KeyCorp lifted their price target on Element Solutions from $34.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Freedom Capital raised Element Solutions to a “strong-buy” rating in a research note on Friday, March 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $37.00 price target on shares of Element Solutions in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Finally, Truist Financial lifted their price target on Element Solutions from $38.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.57.

Element Solutions Trading Up 2.3%

NYSE ESI opened at $42.66 on Wednesday. Element Solutions Inc. has a 1-year low of $20.95 and a 1-year high of $45.51. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $38.91 and a 200-day moving average of $32.41. The firm has a market cap of $10.39 billion, a PE ratio of 68.80, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25.

Element Solutions (NYSE:ESI) last released its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The company had revenue of $840.00 million during the quarter, compared to analyst estimates of $710.51 million. During the same quarter in the previous year, the company posted $0.34 EPS. Element Solutions’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, sell-side analysts forecast that Element Solutions Inc. will post 1.78 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, June 1st. Element Solutions’s payout ratio is currently 51.61%.

About Element Solutions

Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.

In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.