Bares Capital Management Inc. Sells 625,000 Shares of Element Solutions Inc (NYSE:ESI)

Bares Capital Management Inc. lowered its stake in Element Solutions Inc (NYSE:ESI) by 97.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,389 shares of the company’s stock after selling 625,000 shares during the period. Element Solutions accounts for 0.0% of Bares Capital Management Inc.’s portfolio, making the stock its 16th largest position. Bares Capital Management Inc.’s holdings in Element Solutions were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ESI. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Element Solutions by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock worth $143,458,000 after buying an additional 676,432 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Element Solutions by 6.6% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 5,106,554 shares of the company’s stock worth $138,490,000 after acquiring an additional 315,645 shares during the period. State Street Corp raised its position in shares of Element Solutions by 5.6% during the 3rd quarter. State Street Corp now owns 4,319,570 shares of the company’s stock valued at $117,320,000 after acquiring an additional 230,793 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Element Solutions by 149.2% in the 2nd quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock valued at $106,698,000 after purchasing an additional 2,355,554 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Element Solutions by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,541,513 shares of the company’s stock worth $96,216,000 after purchasing an additional 18,791 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ESI shares. Wolfe Research upgraded Element Solutions from a “peer perform” rating to an “outperform” rating in a report on Friday, October 25th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. BMO Capital Markets increased their price target on shares of Element Solutions from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Element Solutions Price Performance

Shares of ESI opened at $27.76 on Tuesday. The stock has a 50 day simple moving average of $27.30 and a 200 day simple moving average of $26.46. Element Solutions Inc has a 52-week low of $20.74 and a 52-week high of $29.78. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. The firm has a market capitalization of $6.72 billion, a PE ratio of 25.01, a P/E/G ratio of 1.54 and a beta of 1.28.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Element Solutions Inc will post 1.44 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 2nd. Element Solutions’s dividend payout ratio (DPR) is presently 28.83%.

Element Solutions Company 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.