Jane Street Group LLC Cuts Stake in Element Solutions Inc (NYSE:ESI)

Jane Street Group LLC cut its holdings in Element Solutions Inc (NYSE:ESI) by 69.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,003 shares of the company’s stock after selling 121,942 shares during the period. Jane Street Group LLC’s holdings in Element Solutions were worth $1,440,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in Element Solutions by 5.6% in the 3rd quarter. State Street Corp now owns 4,319,570 shares of the company’s stock worth $117,320,000 after acquiring an additional 230,793 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Element Solutions by 27.3% during the third quarter. Quantinno Capital Management LP now owns 64,332 shares of the company’s stock valued at $1,747,000 after purchasing an additional 13,782 shares in the last quarter. Quarry LP grew its stake in Element Solutions by 432.6% in the third quarter. Quarry LP now owns 6,029 shares of the company’s stock worth $164,000 after purchasing an additional 4,897 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Element Solutions in the third quarter worth $2,724,000. Finally, Ilex Capital Partners UK LLP raised its holdings in Element Solutions by 162.7% in the third quarter. Ilex Capital Partners UK LLP now owns 2,470,003 shares of the company’s stock worth $67,085,000 after purchasing an additional 1,529,607 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ESI shares. Barclays lifted their target price on shares of Element Solutions from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wolfe Research raised shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. Seaport Res Ptn raised shares of Element Solutions to a “strong-buy” rating in a report on Monday, October 14th. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their price objective on Element Solutions from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.40.

Element Solutions Stock Down 0.9 %

ESI stock opened at $25.60 on Friday. The stock has a market cap of $6.20 billion, a P/E ratio of 23.06, a PEG ratio of 1.51 and a beta of 1.28. Element Solutions Inc has a twelve month low of $21.42 and a twelve month high of $29.78. The business’s 50-day moving average price is $27.40 and its 200-day moving average price is $26.65. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78.

Element Solutions (NYSE:ESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $645.00 million for the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities research analysts forecast that Element Solutions Inc will post 1.44 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, December 2nd. Element Solutions’s dividend payout ratio (DPR) is presently 28.83%.

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.