Eventide Asset Management LLC Cuts Position in Element Solutions Inc (NYSE:ESI)

Eventide Asset Management LLC cut its holdings in Element Solutions Inc (NYSE:ESI) by 12.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 702,168 shares of the company’s stock after selling 99,945 shares during the period. Eventide Asset Management LLC owned approximately 0.29% of Element Solutions worth $19,071,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ESI. Price T Rowe Associates Inc. MD raised its stake in Element Solutions by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,259,088 shares of the company’s stock worth $31,453,000 after buying an additional 41,718 shares in the last quarter. LRI Investments LLC bought a new position in Element Solutions during the first quarter valued at approximately $78,000. Harbor Capital Advisors Inc. raised its position in Element Solutions by 271.9% in the second quarter. Harbor Capital Advisors Inc. now owns 51,059 shares of the company’s stock worth $1,385,000 after acquiring an additional 37,331 shares during the period. Parkside Investments LLC raised its position in Element Solutions by 0.5% in the second quarter. Parkside Investments LLC now owns 391,237 shares of the company’s stock worth $10,610,000 after acquiring an additional 2,129 shares during the period. Finally, Symmetry Partners LLC bought a new position in Element Solutions in the second quarter worth approximately $207,000. 92.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

ESI has been the subject of several research analyst reports. StockNews.com cut shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. BMO Capital Markets boosted their price objective 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. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Barclays upped their price target on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Two investment 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Element Solutions Stock Down 0.6 %

Shares of NYSE:ESI opened at $28.47 on Friday. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78. Element Solutions Inc has a 52-week low of $20.31 and a 52-week high of $29.78. The company has a 50 day moving average of $27.07 and a two-hundred day moving average of $26.22. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29.

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

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Monday, December 2nd. Element Solutions’s payout ratio is 28.83%.

About Element Solutions

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.