OneAscent Wealth Management LLC Reduces Holdings in Element Solutions Inc (NYSE:ESI)

OneAscent Wealth Management LLC lessened its holdings in shares of Element Solutions Inc (NYSE:ESI) by 13.8% in the 3rd quarter, Holdings Channel reports. The fund owned 8,873 shares of the company’s stock after selling 1,419 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Element Solutions were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Marshall Wace LLP lifted its position in Element Solutions by 149.2% during the second quarter. Marshall Wace LLP now owns 3,934,310 shares of the company’s stock worth $106,698,000 after buying an additional 2,355,554 shares in the last quarter. Capital World Investors acquired a new stake in shares of Element Solutions in the 1st quarter worth $44,527,000. Driehaus Capital Management LLC purchased a new position in shares of Element Solutions during the 2nd quarter worth $32,364,000. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Element Solutions by 14.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,289,741 shares of the company’s stock valued at $143,458,000 after acquiring an additional 676,432 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Element Solutions by 43.5% in the second quarter. Millennium Management LLC now owns 1,134,112 shares of the company’s stock valued at $30,757,000 after purchasing an additional 344,017 shares during the period. Institutional investors and hedge funds own 92.32% of the company’s stock.

Wall Street Analyst Weigh In

ESI has been the topic of a number of research reports. Barclays upped their price target on Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Element Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price objective on shares of Element Solutions from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Element Solutions to a “strong-buy” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Element Solutions Stock Performance

Shares of ESI stock opened at $28.04 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.77 and a current ratio of 3.52. The stock has a market cap of $6.79 billion, a PE ratio of 25.26, a P/E/G ratio of 1.55 and a beta of 1.29. Element Solutions Inc has a 1 year low of $20.31 and a 1 year high of $29.16. The stock has a fifty day moving average price of $26.53 and a 200 day moving average price of $25.96.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Monday, October 28th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $626.52 million. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

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.