732,243 Element Solutions Inc. $ESI Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. decreased its stake in Element Solutions Inc. (NYSE:ESI) by 32.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,547,951 shares of the company’s stock after selling 732,243 shares during the quarter. Element Solutions makes up approximately 3.8% of New South Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. New South Capital Management Inc.’s holdings in Element Solutions were worth $56,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Arnhold LLC purchased a new position in shares of Element Solutions in the third quarter valued at approximately $17,484,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Element Solutions during the second quarter worth approximately $8,363,000. Man Group plc purchased a new stake in shares of Element Solutions during the second quarter worth approximately $1,422,000. Squarepoint Ops LLC raised its stake in Element Solutions by 50.4% in the 2nd quarter. Squarepoint Ops LLC now owns 224,679 shares of the company’s stock valued at $10,728,000 after purchasing an additional 75,279 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in Element Solutions by 671.7% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 335,149 shares of the company’s stock valued at $16,003,000 after purchasing an additional 291,718 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

ESI has been the topic of a number of research reports. Mizuho raised their price objective on Element Solutions from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Truist Financial upped their target price on shares of Element Solutions from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. The Goldman Sachs Group started coverage on shares of Element Solutions in a research report on Friday, September 11th. They issued a “buy” rating and a $44.00 target price for the company. Wolfe Research set a $47.00 price target on shares of Element Solutions in a research note on Wednesday, July 29th. Finally, Zacks Research raised shares of Element Solutions from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $46.36.

Element Solutions Stock Performance

NYSE:ESI opened at $34.01 on Thursday. The company’s 50-day moving average is $34.82 and its two-hundred day moving average is $36.94. Element Solutions Inc. has a 1-year low of $22.86 and a 1-year high of $49.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.78 and a quick ratio of 2.06. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.09 and a beta of 1.29.

Element Solutions (NYSE:ESI) last posted its earnings results on Wednesday, October 21st. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Element Solutions had a return on equity of 15.45% and a net margin of 5.87%. The company had revenue of $995.30 million during the quarter, compared to analysts’ expectations of $964.23 million. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 51.7% compared to the same quarter last year. Analysts forecast that Element Solutions Inc. will post 1.85 EPS for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 1st. Element Solutions’s dividend payout ratio (DPR) is 37.65%.

Element Solutions Company Profile

Element Solutions Inc. is a specialty chemicals company that develops and supplies materials used in electronics manufacturing and a range of industrial processes. Its products support the production of printed circuit boards, semiconductors and electronic assemblies, as well as metal plating, surface finishing and other applications. The company’s products help customers treat, protect and enhance surfaces and materials during manufacturing. Its portfolio includes process chemicals, coatings and related technologies sold under established brands, including MacDermid, Alpha and Enthone.