Public Sector Pension Investment Board Purchases 125,269 Shares of Element Solutions Inc. $ESI

Public Sector Pension Investment Board lifted its position in shares of Element Solutions Inc. (NYSE:ESI) by 16.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 885,887 shares of the company’s stock after acquiring an additional 125,269 shares during the period. Public Sector Pension Investment Board’s holdings in Element Solutions were worth $22,298,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Caprock Group LLC purchased a new position in Element Solutions during the third quarter valued at $1,208,000. Rhumbline Advisers grew its position in shares of Element Solutions by 2.2% in the 3rd quarter. Rhumbline Advisers now owns 505,978 shares of the company’s stock worth $12,735,000 after buying an additional 11,114 shares during the period. Navellier & Associates Inc. bought a new position in shares of Element Solutions in the 3rd quarter worth about $213,000. Oppenheimer Asset Management Inc. lifted its position in Element Solutions by 4.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 66,979 shares of the company’s stock valued at $1,686,000 after acquiring an additional 2,561 shares during the period. Finally, Bessemer Group Inc. boosted 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 acquiring an additional 193,487 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ESI. Mizuho decreased their target price on shares of Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. CJS Securities raised Element Solutions to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. KeyCorp lifted their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets cut Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.50.

Element Solutions Stock Performance

Shares of NYSE ESI opened at $32.33 on Friday. The firm’s 50-day moving average price is $27.93 and its 200-day moving average price is $26.41. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $33.34. The company has a market cap of $7.82 billion, a PE ratio of 32.66, a PEG ratio of 1.36 and a beta of 1.28. The company has a quick ratio of 3.28, a current ratio of 4.05 and a debt-to-equity ratio of 0.61.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.0%. Element Solutions’s payout ratio is currently 32.32%.

Insider Buying and Selling at Element Solutions

In other news, insider Matthew Liebowitz sold 37,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $26.60, for a total value of $984,200.00. Following the transaction, the insider directly owned 117,393 shares in the company, valued at $3,122,653.80. This trade represents a 23.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.90% of the stock is owned by insiders.

Element Solutions Profile

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.