Massachusetts Financial Services Co. MA Reduces Position in Element Solutions Inc. $ESI

Massachusetts Financial Services Co. MA decreased its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,016,868 shares of the company’s stock after selling 187,927 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Element Solutions were worth $50,402,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Oak Thistle LLC purchased a new stake in shares of Element Solutions during the fourth quarter worth $797,000. Blue Zone Wealth Advisors LLC grew its holdings in shares of Element Solutions by 0.3% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 204,734 shares of the company’s stock worth $5,116,000 after buying an additional 658 shares in the last quarter. Peak Financial Advisors LLC grew its holdings in shares of Element Solutions by 282.4% during the fourth quarter. Peak Financial Advisors LLC now owns 79,797 shares of the company’s stock worth $1,994,000 after buying an additional 58,929 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Element Solutions by 221.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 350,196 shares of the company’s stock worth $8,751,000 after buying an additional 241,266 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Element Solutions by 22.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 32,954 shares of the company’s stock worth $908,000 after buying an additional 6,041 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

Insider Buying and Selling

In other Element Solutions news, Director E Stanley Oneal sold 143,564 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.52, for a total value of $5,099,393.28. Following the transaction, the director owned 147,832 shares of the company’s stock, valued at $5,250,992.64. This represents a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.20% of the stock is owned by insiders.

Element Solutions Trading Up 0.5%

Shares of ESI stock opened at $38.20 on Wednesday. The company’s 50-day moving average price is $33.50 and its 200-day moving average price is $29.03. The company has a current ratio of 3.68, a quick ratio of 3.00 and a debt-to-equity ratio of 0.60. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 1.74 and a beta of 1.23. Element Solutions Inc. has a twelve month low of $17.77 and a twelve month high of $38.49.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Tuesday, February 17th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $632.40 million. Element Solutions had a net margin of 7.48% and a return on equity of 13.79%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. As a group, equities analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. Element Solutions’s dividend payout ratio is presently 40.51%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ESI shares. BMO Capital Markets boosted their price target on shares of Element Solutions from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $37.00 price target on shares of Element Solutions in a research report on Monday, February 23rd. Truist Financial boosted their price target on shares of Element Solutions from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of Element Solutions in a research report on Wednesday, January 21st. Finally, Mizuho boosted their price target on shares of Element Solutions from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Element Solutions has a consensus rating of “Buy” and an average target price of $35.75.

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.