Invesco Ltd. Sells 808,730 Shares of Element Solutions Inc. $ESI

Invesco Ltd. lowered its position in Element Solutions Inc. (NYSE:ESI) by 21.7% in the 2nd quarter, Holdings Channel reports. The firm owned 2,919,002 shares of the company’s stock after selling 808,730 shares during the quarter. Invesco Ltd.’s holdings in Element Solutions were worth $66,115,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ESI. Elevation Point Wealth Partners LLC bought a new position in shares of Element Solutions during the second quarter valued at approximately $26,000. First Horizon Advisors Inc. grew its position in Element Solutions by 710.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,288 shares of the company’s stock valued at $29,000 after acquiring an additional 1,129 shares during the last quarter. American National Bank & Trust purchased a new stake in Element Solutions in the second quarter worth $36,000. SVB Wealth LLC purchased a new stake in Element Solutions in the first quarter worth $37,000. Finally, Fifth Third Bancorp lifted its position in shares of Element Solutions by 462.5% during the second quarter. Fifth Third Bancorp now owns 2,160 shares of the company’s stock worth $49,000 after purchasing an additional 1,776 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ESI shares. KeyCorp upped their price target on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets upped their target price on shares of Element Solutions from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. UBS Group raised their target price on shares of Element Solutions from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Mizuho lowered their price target on Element Solutions from $31.00 to $29.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Element Solutions Price Performance

Shares of ESI opened at $27.54 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.28 and a current ratio of 4.05. The company has a 50 day moving average price of $26.05 and a 200-day moving average price of $24.75. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $28.03. The stock has a market capitalization of $6.67 billion, a PE ratio of 27.82, a PEG ratio of 1.31 and a beta of 1.33.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $656.10 million during the quarter, compared to the consensus estimate of $645.13 million. Element Solutions had a net margin of 9.58% and a return on equity of 14.01%. Element Solutions’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. Equities analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. Element Solutions’s dividend payout ratio (DPR) is presently 32.32%.

Insider Buying and Selling

In other Element Solutions news, EVP Carey J. Dorman sold 40,725 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $26.66, for a total value of $1,085,728.50. Following the completion of the transaction, the executive vice president directly owned 214,837 shares in the company, valued at approximately $5,727,554.42. The trade was a 15.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Matthew Liebowitz sold 50,000 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $26.55, for a total transaction of $1,327,500.00. Following the sale, the executive vice president directly owned 57,353 shares of the company’s stock, valued at approximately $1,522,722.15. The trade was a 46.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 460,399 shares of company stock worth $12,376,561 over the last ninety days. 6.90% of the stock is currently owned by company insiders.

About Element Solutions

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.