New South Capital Management Inc. Trims Stock Position in Element Solutions Inc (NYSE:ESI)

New South Capital Management Inc. cut its stake in shares of Element Solutions Inc (NYSE:ESI) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,770,013 shares of the company’s stock after selling 62,761 shares during the period. Element Solutions makes up 1.9% of New South Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. New South Capital Management Inc. owned approximately 0.73% of Element Solutions worth $45,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC acquired a new stake in shares of Element Solutions during the third quarter valued at about $25,000. First Horizon Advisors Inc. increased its position in shares of Element Solutions by 610.7% during the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock valued at $29,000 after acquiring an additional 971 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of Element Solutions during the fourth quarter valued at about $43,000. Parkside Financial Bank & Trust acquired a new stake in shares of Element Solutions during the fourth quarter valued at about $48,000. Finally, UMB Bank n.a. increased its position in shares of Element Solutions by 98.8% during the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock valued at $49,000 after acquiring an additional 949 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Trading Up 3.0 %

NYSE ESI opened at $25.34 on Thursday. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. Element Solutions Inc has a 52 week low of $23.10 and a 52 week high of $29.78. The stock has a market capitalization of $6.14 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 2.30 and a beta of 1.29. The firm has a 50 day moving average of $25.74 and a two-hundred day moving average of $26.37.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $598.24 million. As a group, research analysts expect that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is presently 31.37%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ESI. Barclays dropped their price target on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Truist Financial assumed coverage on shares of Element Solutions in a research report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target for the company. Bank of America restated a “neutral” rating and issued a $28.00 price objective (down previously from $32.00) on shares of Element Solutions in a report on Tuesday, January 14th. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Element Solutions has a consensus rating of “Moderate Buy” and an average target price of $30.14.

Element Solutions Company 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.