Cinctive Capital Management LP Invests $3.36 Million in Element Solutions Inc (NYSE:ESI)

Cinctive Capital Management LP acquired a new stake in shares of Element Solutions Inc (NYSE:ESI) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 131,949 shares of the company’s stock, valued at approximately $3,355,000.

A number of other hedge funds also recently bought and sold shares of ESI. Vanguard Group Inc. boosted its holdings in shares of Element Solutions by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company’s stock worth $565,685,000 after purchasing an additional 249,280 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Element Solutions by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 5,209,130 shares of the company’s stock worth $132,468,000 after buying an additional 209,441 shares during the last quarter. State Street Corp boosted its stake in Element Solutions by 5.6% during the third quarter. State Street Corp now owns 4,319,570 shares of the company’s stock worth $117,320,000 after buying an additional 230,793 shares during the last quarter. Geode Capital Management LLC grew its holdings in Element Solutions by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 3,555,852 shares of the company’s stock valued at $90,456,000 after buying an additional 14,339 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Element Solutions by 80.4% in the 4th quarter. JPMorgan Chase & Co. now owns 2,921,021 shares of the company’s stock worth $74,282,000 after acquiring an additional 1,301,602 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analyst Upgrades and Downgrades

ESI has been the topic of several recent research reports. BMO Capital Markets boosted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Bank of America reissued a “neutral” rating and issued a $28.00 price target (down previously from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Barclays decreased their price objective on Element Solutions from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Truist Financial started coverage on Element Solutions in a research note on Tuesday, January 28th. They set a “hold” rating and a $28.00 target price for the company. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

Insiders Place Their Bets

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total value of $52,200,000.00. Following the completion of the transaction, the director now owns 109,100 shares in the company, valued at $2,847,510. The trade was a 94.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 7.90% of the stock is owned by company insiders.

Element Solutions Stock Up 0.6 %

NYSE:ESI opened at $22.71 on Thursday. Element Solutions Inc has a 52 week low of $22.13 and a 52 week high of $29.78. The stock’s fifty day moving average is $25.46 and its two-hundred day moving average is $26.25. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth 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.

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. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $598.24 million. Element Solutions had a return on equity of 14.68% and a net margin of 9.94%. Research analysts anticipate that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Monday, March 3rd. Element Solutions’s payout ratio is currently 31.37%.

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.