Pitcairn Co. Sells 3,105 Shares of Element Solutions Inc (NYSE:ESI)

Pitcairn Co. decreased its holdings in shares of Element Solutions Inc (NYSE:ESI) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,779 shares of the company’s stock after selling 3,105 shares during the period. Pitcairn Co.’s holdings in Element Solutions were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Element Solutions during the second quarter valued at about $1,518,000. Cubist Systematic Strategies LLC bought a new position in shares of Element Solutions during the 2nd quarter valued at approximately $5,668,000. Blue Trust Inc. purchased a new stake in Element Solutions in the 2nd quarter worth approximately $613,000. Sequoia Financial Advisors LLC bought a new stake in Element Solutions during the 3rd quarter worth approximately $1,161,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Element Solutions by 27.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 121,434 shares of the company’s stock valued at $3,037,000 after purchasing an additional 26,104 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Trading Up 1.0 %

Shares of ESI stock opened at $29.33 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 2.77 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.29. Element Solutions Inc has a 12-month low of $20.31 and a 12-month high of $29.78. The stock’s 50-day moving average price is $26.83 and its 200-day moving average price is $26.12.

Element Solutions (NYSE:ESI) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, topping 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 company had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $626.52 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. Element Solutions’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that Element Solutions Inc will post 1.44 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. Element Solutions’s dividend payout ratio is 28.83%.

Analyst Upgrades and Downgrades

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

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.