Price T Rowe Associates Inc. MD Sells 17,437,377 Shares of Element Solutions Inc (NYSE:ESI)

Price T Rowe Associates Inc. MD cut its holdings in Element Solutions Inc (NYSE:ESI – Get Rating) by 79.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,407,127 shares of the company’s stock after selling 17,437,377 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Element Solutions were worth $71,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Laurel Wealth Advisors Inc. lifted its holdings in Element Solutions by 2.6% in the third quarter. Laurel Wealth Advisors Inc. now owns 23,236 shares of the company’s stock worth $378,000 after buying an additional 580 shares during the period. Russell Investments Group Ltd. lifted its holdings in Element Solutions by 6.4% in the third quarter. Russell Investments Group Ltd. now owns 1,173,301 shares of the company’s stock worth $19,088,000 after buying an additional 70,680 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Element Solutions by 10.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,659 shares of the company’s stock worth $483,000 after buying an additional 2,914 shares during the period. Duality Advisers LP purchased a new stake in Element Solutions in the second quarter worth about $244,000. Finally, FMR LLC lifted its holdings in Element Solutions by 5.1% in the second quarter. FMR LLC now owns 15,221,953 shares of the company’s stock worth $270,951,000 after buying an additional 740,817 shares during the period. 90.37% of the stock is owned by institutional investors.

Element Solutions Price Performance

Shares of NYSE ESI opened at $19.01 on Tuesday. Element Solutions Inc has a twelve month low of $15.31 and a twelve month high of $23.16. The firm has a market cap of $4.59 billion, a P/E ratio of 25.01, a PEG ratio of 1.91 and a beta of 1.35. The company has a 50 day moving average of $20.01 and a 200 day moving average of $18.75. The company has a quick ratio of 2.61, a current ratio of 3.45 and a debt-to-equity ratio of 0.80.

Element Solutions (NYSE:ESI – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Element Solutions had a net margin of 7.34% and a return on equity of 14.53%. The company had revenue of $573.80 million during the quarter, compared to analyst estimates of $589.81 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, research analysts expect that Element Solutions Inc will post 1.41 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Tuesday, February 28th. Element Solutions’s dividend payout ratio (DPR) is presently 42.11%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. The Goldman Sachs Group lifted their target price on shares of Element Solutions from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Barclays lifted their target price on shares of Element Solutions from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, February 28th. Finally, Credit Suisse Group lifted their target price on shares of Element Solutions from $15.00 to $18.00 and gave the company an “underperform” rating in a report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.08.

About Element Solutions

(Get Rating)

Element Solutions, Inc is a specialty chemicals company. It operates under the Electronics, and Industrial and Specialty segments. The Electronics segment focuses on researching, formulating, and selling specialty chemicals and material process technologies for all types of electronics hardware, from complex printed circuit board designs to advanced semiconductor packaging.