Cinctive Capital Management LP Purchases Shares of 131,949 Element Solutions Inc (NYSE:ESI)

Cinctive Capital Management LP purchased a new position in shares of Element Solutions Inc (NYSE:ESI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 131,949 shares of the company’s stock, valued at approximately $3,355,000. Cinctive Capital Management LP owned about 0.05% of Element Solutions as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Element Solutions by 549.2% during the third quarter. JPMorgan Chase & Co. now owns 1,619,419 shares of the company’s stock worth $43,983,000 after buying an additional 1,369,981 shares during the period. Boston Partners acquired a new stake in Element Solutions during the 4th quarter worth about $24,169,000. Raymond James Financial Inc. purchased a new stake in Element Solutions during the 4th quarter valued at about $13,573,000. Jennison Associates LLC increased its holdings in shares of Element Solutions by 63.3% in the fourth quarter. Jennison Associates LLC now owns 1,316,244 shares of the company’s stock valued at $33,472,000 after purchasing an additional 510,332 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Element Solutions by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 22,244,795 shares of the company’s stock worth $565,685,000 after purchasing an additional 249,280 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

Element Solutions Stock Up 0.6 %

Shares of ESI opened at $22.71 on Thursday. The firm has a market cap of $5.51 billion, a P/E ratio of 22.26, a PEG ratio of 2.30 and a beta of 1.29. Element Solutions Inc has a 12 month low of $22.13 and a 12 month high of $29.78. The stock’s 50 day moving average is $25.46 and its two-hundred day moving average is $26.25. The company has a current ratio of 3.34, a quick ratio of 2.77 and a debt-to-equity ratio of 0.76.

Element Solutions (NYSE:ESI) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm 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%. Analysts predict that Element Solutions Inc will post 1.45 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.41%. Element Solutions’s dividend payout ratio is currently 31.37%.

Insider Buying and Selling

In other Element Solutions news, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $26.10, for a total transaction of $52,200,000.00. Following the completion of the sale, the director now directly owns 109,100 shares in the company, valued at approximately $2,847,510. The trade was a 94.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.90% of the company’s stock.

Analysts Set New Price Targets

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

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.