Clearbridge Investments LLC Sells 116,250 Shares of Element Solutions Inc (NYSE:ESI)

Clearbridge Investments LLC decreased its position in shares of Element Solutions Inc (NYSE:ESI) by 5.7% in the 4th quarter, HoldingsChannel reports. The fund owned 1,918,577 shares of the company’s stock after selling 116,250 shares during the period. Clearbridge Investments LLC’s holdings in Element Solutions were worth $48,789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESI. Ilex Capital Partners UK LLP grew its position in Element Solutions by 162.7% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock valued at $67,085,000 after purchasing an additional 1,529,607 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Element Solutions by 549.2% in the third quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock valued at $43,983,000 after buying an additional 1,369,981 shares in the last quarter. Boston Partners acquired a new position in shares of Element Solutions during the fourth quarter valued at about $24,169,000. Raymond James Financial Inc. bought a new stake in shares of Element Solutions during the fourth quarter worth about $13,573,000. Finally, Jennison Associates LLC raised its holdings in shares of Element Solutions by 63.3% in the 4th quarter. Jennison Associates LLC now owns 1,316,244 shares of the company’s stock worth $33,472,000 after acquiring an additional 510,332 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Price Performance

ESI opened at $22.61 on Tuesday. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.30 and a beta of 1.29. The company has a quick ratio of 2.77, a current ratio of 3.34 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $25.60 and a 200-day moving average price of $26.30. Element Solutions Inc has a twelve month low of $22.36 and a twelve month high of $29.78.

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

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s payout ratio is presently 31.37%.

Analyst Ratings Changes

A number of research firms have issued reports on ESI. Bank of America reiterated a “neutral” rating and set a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. Truist Financial started coverage on Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target for the company. Barclays cut their price objective on shares of Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. BMO Capital Markets increased their target price 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. Finally, StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $30.14.

Insider Transactions at Element Solutions

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total value of $52,200,000.00. Following the transaction, the director now directly owns 109,100 shares in the company, valued at $2,847,510. This represents a 94.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.90% of the company’s stock.

Element Solutions 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.