New York State Common Retirement Fund Sells 8,000 Shares of Element Solutions Inc (NYSE:ESI)

New York State Common Retirement Fund lessened its position in Element Solutions Inc (NYSE:ESI) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,362 shares of the company’s stock after selling 8,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Element Solutions were worth $5,884,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ESI. US Bancorp DE boosted its stake in Element Solutions by 0.9% in the third quarter. US Bancorp DE now owns 46,005 shares of the company’s stock valued at $1,249,000 after acquiring an additional 417 shares in the last quarter. Equitable Trust Co. lifted its stake in Element Solutions by 1.7% during the 4th quarter. Equitable Trust Co. now owns 34,103 shares of the company’s stock valued at $867,000 after acquiring an additional 576 shares during the period. True Wealth Design LLC purchased a new stake in shares of Element Solutions in the 3rd quarter valued at $25,000. Richardson Financial Services Inc. increased its stake in shares of Element Solutions by 77.5% in the fourth quarter. Richardson Financial Services Inc. now owns 2,086 shares of the company’s stock worth $53,000 after acquiring an additional 911 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Element Solutions by 98.8% during the fourth quarter. UMB Bank n.a. now owns 1,910 shares of the company’s stock worth $49,000 after purchasing an additional 949 shares during the last quarter. 92.32% of the stock is owned by hedge funds and other institutional investors.

Element Solutions Price Performance

Shares of ESI opened at $25.94 on Friday. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 2.30 and a beta of 1.30. Element Solutions Inc has a 52 week low of $23.09 and a 52 week high of $29.78. The stock has a 50 day moving average of $25.75 and a 200-day moving average of $26.38.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $598.24 million. As a group, analysts forecast that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, March 3rd. Element Solutions’s dividend payout ratio (DPR) is 31.37%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESI. Truist Financial initiated coverage on shares of Element Solutions in a report on Tuesday, January 28th. They set a “hold” rating and a $28.00 price target on the stock. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research report on Monday. Barclays reduced their price target on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets lifted their price objective on Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Finally, Bank of America reissued a “neutral” rating and set a $28.00 price objective (down from $32.00) on shares of Element Solutions in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.14.

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.