London Co. of Virginia Trims Stake in Element Solutions Inc. $ESI

London Co. of Virginia cut its holdings in Element Solutions Inc. (NYSE:ESI) by 23.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,005,972 shares of the company’s stock after selling 309,499 shares during the period. London Co. of Virginia’s holdings in Element Solutions were worth $25,139,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ESI. Invesco Ltd. raised its holdings in Element Solutions by 68.6% in the 3rd quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock valued at $123,905,000 after acquiring an additional 2,003,724 shares during the last quarter. Scopus Asset Management L.P. raised its holdings in Element Solutions by 134.6% in the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after acquiring an additional 1,965,691 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Element Solutions by 4,492.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,545,075 shares of the company’s stock valued at $38,611,000 after acquiring an additional 1,511,430 shares during the last quarter. Merewether Investment Management LP acquired a new position in Element Solutions in the 2nd quarter valued at $28,031,000. Finally, Boston Partners acquired a new position in Element Solutions in the 4th quarter valued at $29,623,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Stock Down 1.0%

Shares of Element Solutions stock opened at $44.63 on Wednesday. The company has a fifty day moving average price of $40.80 and a 200 day moving average price of $33.73. 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 twelve month low of $21.28 and a twelve month high of $45.91. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.25.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share for the quarter, topping 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 firm had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $710.51 million. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 41.5% on a year-over-year basis. Equities research analysts forecast that Element Solutions Inc. will post 1.78 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio is presently 51.61%.

Analyst Ratings Changes

A number of analysts have recently commented on ESI shares. Freedom Capital upgraded Element Solutions to a “strong-buy” rating in a report on Friday, March 27th. Truist Financial upped their price objective on Element Solutions from $38.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and set a $37.00 price objective on shares of Element Solutions in a report on Monday, February 23rd. KeyCorp upped their price objective on Element Solutions from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. Finally, Mizuho upped their price objective on Element Solutions from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Element Solutions has an average rating of “Buy” and an average price target of $39.57.

Element Solutions Company 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.