State of New Jersey Common Pension Fund D Sells 39,152 Shares of Element Solutions Inc (NYSE:ESI)

State of New Jersey Common Pension Fund D cut its position in Element Solutions Inc (NYSE:ESI) by 32.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,777 shares of the company’s stock after selling 39,152 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Element Solutions were worth $2,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Capital World Investors bought a new stake in Element Solutions in the 1st quarter valued at about $44,527,000. Glenview Capital Management LLC lifted its stake in shares of Element Solutions by 35.2% during the 4th quarter. Glenview Capital Management LLC now owns 3,762,620 shares of the company’s stock valued at $87,067,000 after buying an additional 979,798 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings 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 buying an additional 840,653 shares during the period. Schroder Investment Management Group raised its holdings in Element Solutions by 39.4% during the 4th quarter. Schroder Investment Management Group now owns 1,538,278 shares of the company’s stock valued at $35,596,000 after acquiring an additional 434,590 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of Element Solutions by 493.3% during the fourth quarter. Verition Fund Management LLC now owns 505,167 shares of the company’s stock worth $11,690,000 after acquiring an additional 420,017 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESI. StockNews.com upgraded Element Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, September 14th. UBS Group increased their price target on shares of Element Solutions from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Mizuho boosted their price objective on shares of Element Solutions from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group increased their target price on shares of Element Solutions from $26.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, June 27th. Finally, BMO Capital Markets restated an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Element Solutions in a research report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Element Solutions currently has an average rating of “Moderate Buy” and an average target price of $29.40.

Element Solutions Price Performance

ESI stock opened at $25.83 on Friday. Element Solutions Inc has a one year low of $17.57 and a one year high of $28.68. The firm has a 50 day simple moving average of $26.02 and a two-hundred day simple moving average of $25.24. The stock has a market cap of $6.25 billion, a PE ratio of 47.83, a P/E/G ratio of 1.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.50 and a quick ratio of 2.60.

Element Solutions (NYSE:ESI) last released its earnings results on Monday, July 29th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 8.24%. The company had revenue of $613.00 million during the quarter, compared to the consensus estimate of $606.95 million. During the same quarter in the previous year, the company posted $0.31 EPS. Element Solutions’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, analysts predict that Element Solutions Inc will post 1.45 EPS for the current fiscal year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.24%. Element Solutions’s dividend payout ratio (DPR) is currently 59.26%.

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.