Massachusetts Financial Services Co. MA lowered its stake in shares of Element Solutions Inc (NYSE:ESI – Free Report) by 15.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,895,466 shares of the company’s stock after selling 907,546 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.03% of Element Solutions worth $96,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Element Solutions by 8.9% in the 1st quarter. JPMorgan Chase & Co. now owns 288,984 shares of the company’s stock valued at $6,329,000 after buying an additional 23,529 shares in the last quarter. US Bancorp DE grew its holdings in Element Solutions by 19.1% in the first quarter. US Bancorp DE now owns 6,710 shares of the company’s stock worth $147,000 after purchasing an additional 1,078 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Element Solutions by 27.9% during the first quarter. HighTower Advisors LLC now owns 16,912 shares of the company’s stock worth $370,000 after purchasing an additional 3,689 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Element Solutions during the 1st quarter valued at $101,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Element Solutions by 14.6% in the 1st quarter. Allianz Asset Management GmbH now owns 93,764 shares of the company’s stock worth $2,053,000 after purchasing an additional 11,955 shares in the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on ESI. TheStreet lowered Element Solutions from a “b” rating to a “c” rating in a research note on Wednesday, October 25th. UBS Group raised their price target on shares of Element Solutions from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.60.
Element Solutions Trading Up 1.4 %
Element Solutions stock opened at $22.56 on Thursday. Element Solutions Inc has a 52 week low of $17.08 and a 52 week high of $23.75. The stock has a 50-day moving average price of $22.30 and a 200 day moving average price of $20.59. The company has a quick ratio of 2.59, a current ratio of 3.45 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 102.52, a price-to-earnings-growth ratio of 3.63 and a beta of 1.31.
Element Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.42%. Element Solutions’s dividend payout ratio (DPR) is presently 145.45%.
Element Solutions 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.
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