Wells Fargo & Company MN raised its stake in Element Solutions Inc (NYSE:ESI) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,259,718 shares of the company’s stock after acquiring an additional 206,875 shares during the quarter. Wells Fargo & Company MN owned about 0.91% of Element Solutions worth $23,749,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of ESI. First Trust Advisors LP grew its position in shares of Element Solutions by 95.5% during the 2nd quarter. First Trust Advisors LP now owns 234,409 shares of the company’s stock worth $2,543,000 after buying an additional 114,503 shares during the period. Strs Ohio grew its position in shares of Element Solutions by 59.5% during the 2nd quarter. Strs Ohio now owns 135,371 shares of the company’s stock worth $1,468,000 after buying an additional 50,486 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Element Solutions by 58.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,507 shares of the company’s stock worth $309,000 after buying an additional 10,532 shares during the period. Raymond James & Associates grew its position in shares of Element Solutions by 3.4% during the 2nd quarter. Raymond James & Associates now owns 398,863 shares of the company’s stock worth $4,328,000 after buying an additional 13,129 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Element Solutions during the 2nd quarter worth approximately $203,000.
Shares of NYSE ESI opened at $13.06 on Friday. The stock has a market cap of $3.23 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.83 and a beta of 1.78. The firm has a 50 day moving average price of $12.15 and a 200 day moving average price of $11.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.43 and a current ratio of 3.13. Element Solutions Inc has a 52-week low of $5.35 and a 52-week high of $13.44.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 25th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, November 24th.
Several brokerages have recently commented on ESI. Morgan Stanley lifted their price target on shares of Element Solutions from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 3rd. TheStreet upgraded shares of Element Solutions from a “c” rating to a “b” rating in a research report on Tuesday, October 27th. Loop Capital started coverage on shares of Element Solutions in a report on Monday, October 12th. They set a “buy” rating and a $19.00 price objective for the company. Finally, Barclays restated a “hold” rating and set a $13.00 price objective on shares of Element Solutions in a report on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $13.67.
In other news, VP Patricia Mount sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $11.85, for a total value of $35,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin E. Franklin acquired 500,000 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average cost of $11.50 per share, for a total transaction of $5,750,000.00. The disclosure for this purchase can be found here. Insiders own 13.20% of the company’s stock.
Element Solutions Profile
Element Solutions Inc produces and sells specialty chemical products the United States, China, and internationally. The company operates in two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
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