Bessemer Group Inc. Decreases Position in Element Solutions Inc. $ESI

Bessemer Group Inc. cut its stake in Element Solutions Inc. (NYSE:ESI) by 19.0% in the first quarter, Holdings Channel reports. The institutional investor owned 1,187,352 shares of the company’s stock after selling 277,866 shares during the period. Bessemer Group Inc.’s holdings in Element Solutions were worth $40,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Element Solutions in the 4th quarter worth about $28,000. Johnson Financial Group Inc. bought a new position in Element Solutions during the 3rd quarter valued at about $47,000. Measured Wealth Private Client Group LLC bought a new position in Element Solutions during the 3rd quarter valued at about $49,000. Quarry LP raised its position in Element Solutions by 27.3% in the 3rd quarter. Quarry LP now owns 2,011 shares of the company’s stock worth $51,000 after purchasing an additional 431 shares during the period. Finally, Clearstead Advisors LLC raised its position in Element Solutions by 1,051.6% in the 4th quarter. Clearstead Advisors LLC now owns 2,119 shares of the company’s stock worth $53,000 after purchasing an additional 1,935 shares during the period. 92.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESI. Mizuho restated a “neutral” rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday. Truist Financial increased their price target on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. BMO Capital Markets boosted their price objective on Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, UBS Group upped their price objective on Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $43.00.

Element Solutions Trading Down 0.4%

ESI opened at $37.47 on Friday. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 60.43, a PEG ratio of 1.31 and a beta of 1.23. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. Element Solutions Inc. has a 12 month low of $22.63 and a 12 month high of $49.25. The stock has a fifty day moving average price of $42.64 and a 200-day moving average price of $36.45.

Element Solutions (NYSE:ESI) last posted its earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $710.51 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. Element Solutions’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Element Solutions Inc. will post 1.79 earnings per share for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio is 51.61%.

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.