Martin E. Franklin Sells 2,000,000 Shares of Element Solutions Inc (NYSE:ESI) Stock

Element Solutions Inc (NYSE:ESI) Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the sale, the director now owns 109,100 shares of the company’s stock, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Element Solutions Stock Down 3.5 %

Shares of Element Solutions stock opened at $25.31 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.34 and a quick ratio of 2.77. Element Solutions Inc has a 1-year low of $23.10 and a 1-year high of $29.78. The business’s fifty day moving average price is $25.78 and its two-hundred day moving average price is $26.34. The company has a market capitalization of $6.14 billion, a P/E ratio of 24.81, a PEG ratio of 2.30 and a beta of 1.29.

Element Solutions (NYSE:ESI) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $598.24 million. Element Solutions had a net margin of 9.94% and a return on equity of 14.68%. As a group, research analysts forecast that Element Solutions Inc will post 1.45 EPS for the current year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, March 3rd. Element Solutions’s dividend payout ratio is currently 31.37%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC bought a new position in Element Solutions during the 3rd quarter valued at $25,000. TD Private Client Wealth LLC bought a new stake in shares of Element Solutions in the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new stake in shares of Element Solutions in the 4th quarter worth $28,000. First Horizon Advisors Inc. raised its position in Element Solutions by 610.7% in the fourth quarter. First Horizon Advisors Inc. now owns 1,130 shares of the company’s stock worth $29,000 after acquiring an additional 971 shares in the last quarter. Finally, Trust Co. of Vermont bought a new stake in Element Solutions in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Bank of America restated a “neutral” rating and issued a $28.00 target price (down from $32.00) on shares of Element Solutions in a research note on Tuesday, January 14th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Barclays reduced their price objective on Element Solutions from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Truist Financial assumed coverage on Element Solutions in a research note on Tuesday, January 28th. They set a “hold” rating and a $28.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

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.