Goldman Sachs Group Inc. Decreases Holdings in Element Solutions Inc (NYSE:ESI)

Goldman Sachs Group Inc. decreased its holdings in Element Solutions Inc (NYSE:ESI) by 4.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,323,463 shares of the company’s stock after selling 65,216 shares during the period. Goldman Sachs Group Inc. owned approximately 0.55% of Element Solutions worth $30,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Invesco Ltd. boosted its position in Element Solutions by 47.2% during the third quarter. Invesco Ltd. now owns 4,403,980 shares of the company’s stock valued at $86,362,000 after buying an additional 1,412,706 shares during the period. Vanguard Group Inc. boosted its holdings in Element Solutions by 4.8% during the 3rd quarter. Vanguard Group Inc. now owns 22,719,174 shares of the company’s stock valued at $445,523,000 after acquiring an additional 1,035,756 shares during the period. Glenview Capital Management LLC grew its position in Element Solutions by 35.2% during the 4th quarter. Glenview Capital Management LLC now owns 3,762,620 shares of the company’s stock worth $87,067,000 after acquiring an additional 979,798 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Element Solutions by 10,622.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 848,567 shares of the company’s stock worth $19,636,000 after purchasing an additional 840,653 shares during the period. Finally, Schroder Investment Management Group lifted its position in Element Solutions by 39.4% in the fourth quarter. Schroder Investment Management Group now owns 1,538,278 shares of the company’s stock valued at $35,596,000 after purchasing an additional 434,590 shares during the last quarter. Institutional investors own 92.32% of the company’s stock.

Element Solutions Stock Down 0.3 %

Shares of NYSE:ESI opened at $27.22 on Friday. The firm has a market capitalization of $6.59 billion, a P/E ratio of 50.41, a P/E/G ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.69 and a current ratio of 3.63. The stock has a 50 day moving average price of $24.36 and a 200-day moving average price of $23.65. Element Solutions Inc has a 52-week low of $17.57 and a 52-week high of $27.86.

Element Solutions (NYSE:ESI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $575.00 million during the quarter, compared to the consensus estimate of $588.17 million. Element Solutions had a return on equity of 13.96% and a net margin of 5.62%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, equities research analysts anticipate that Element Solutions Inc will post 1.43 EPS for the current fiscal year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, May 31st. Element Solutions’s dividend payout ratio is 59.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. StockNews.com lowered shares of Element Solutions from a “buy” rating to a “hold” rating in a report on Thursday. Wolfe Research started coverage on shares of Element Solutions in a report on Friday, March 1st. They set a “peer perform” rating for the company. Mizuho boosted their price target on Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Barclays increased their price objective on Element Solutions from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Finally, The Goldman Sachs Group boosted their target price on Element Solutions from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.60.

About Element Solutions

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.