Headlands Technologies LLC Cuts Holdings in Element Solutions Inc. (NYSE:ESI)

Headlands Technologies LLC trimmed its holdings in shares of Element Solutions Inc. (NYSE:ESI) by 66.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,238 shares of the company’s stock after selling 4,514 shares during the period. Headlands Technologies LLC’s holdings in Element Solutions were worth $51,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Deutsche Bank AG boosted its stake in Element Solutions by 336.9% during the 1st quarter. Deutsche Bank AG now owns 74,778 shares of the company’s stock valued at $1,691,000 after purchasing an additional 57,662 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Element Solutions by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,391,832 shares of the company’s stock valued at $54,079,000 after purchasing an additional 62,938 shares during the last quarter. Vanguard Group Inc. boosted its stake in Element Solutions by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 24,932,851 shares of the company’s stock valued at $563,732,000 after purchasing an additional 2,688,056 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Element Solutions by 107.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 13,765 shares of the company’s stock valued at $311,000 after purchasing an additional 7,121 shares during the last quarter. Finally, Baker Avenue Asset Management LP purchased a new stake in Element Solutions during the 1st quarter valued at $225,000. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Price Performance

NYSE ESI opened at $24.77 on Wednesday. The company has a market capitalization of $5.98 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 1.55 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. The business’s fifty day moving average is $23.22 and its 200 day moving average is $23.05. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78.

Element Solutions (NYSE:ESI) last released its earnings results on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $625.20 million for the quarter, compared to the consensus estimate of $587.45 million. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%. Element Solutions’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share. Sell-side analysts predict that Element Solutions Inc. will post 1.45 earnings per share for the current year.

Element Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Element Solutions’s dividend payout ratio (DPR) is currently 32.00%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays dropped their price target on Element Solutions from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group restated a “neutral” rating and issued a $27.00 price target (up from $24.00) on shares of Element Solutions in a research note on Tuesday, July 15th. KeyCorp raised their price target on Element Solutions from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. UBS Group raised their price target on Element Solutions from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets dropped their price target on Element Solutions from $34.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.38.

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.