Iridian Asset Management LLC CT Sells 18,199 Shares of Element Solutions Inc. $ESI

Iridian Asset Management LLC CT lessened its position in shares of Element Solutions Inc. (NYSE:ESI) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,525 shares of the company’s stock after selling 18,199 shares during the period. Element Solutions makes up approximately 1.9% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 16th largest position. Iridian Asset Management LLC CT owned about 0.08% of Element Solutions worth $4,846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its stake in Element Solutions by 0.8% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 51,200 shares of the company’s stock valued at $1,289,000 after purchasing an additional 400 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Element Solutions by 0.8% during the second quarter. Maryland State Retirement & Pension System now owns 76,026 shares of the company’s stock worth $1,722,000 after buying an additional 619 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Element Solutions by 154.8% during the third quarter. Farther Finance Advisors LLC now owns 1,116 shares of the company’s stock worth $28,000 after buying an additional 678 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Element Solutions by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 218,152 shares of the company’s stock valued at $4,941,000 after acquiring an additional 740 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Element Solutions by 19.0% in the third quarter. Nisa Investment Advisors LLC now owns 4,760 shares of the company’s stock valued at $120,000 after acquiring an additional 760 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ESI shares. BMO Capital Markets cut shares of Element Solutions from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, October 8th. KeyCorp boosted their price target on Element Solutions from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Mizuho lowered their price objective on Element Solutions from $31.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Truist Financial increased their target price on Element Solutions from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Insider Buying and Selling

In related news, insider Matthew Liebowitz sold 37,000 shares of Element Solutions stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $26.60, for a total transaction of $984,200.00. Following the sale, the insider directly owned 117,393 shares of the company’s stock, valued at approximately $3,122,653.80. The trade was a 23.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 292,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $27.00, for a total transaction of $7,884,000.00. Following the completion of the transaction, the director directly owned 306,880 shares of the company’s stock, valued at approximately $8,285,760. The trade was a 48.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.90% of the company’s stock.

Element Solutions Trading Up 1.8%

Shares of ESI stock opened at $28.04 on Monday. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $28.13. The stock’s fifty day moving average price is $26.10 and its two-hundred day moving average price is $25.46. 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 market cap of $6.79 billion, a PE ratio of 28.33, a P/E/G ratio of 1.19 and a beta of 1.28.

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

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, December 1st. Element Solutions’s dividend payout ratio (DPR) is presently 32.32%.

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.