Gabelli Funds LLC purchased a new position in shares of Element Solutions Inc (NYSE:ESI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 190,000 shares of the company’s stock, valued at approximately $1,934,000.
Other institutional investors have also bought and sold shares of the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Element Solutions during the 3rd quarter worth $2,390,000. Symons Capital Management Inc. acquired a new position in shares of Element Solutions during the 2nd quarter worth $122,000. Public Employees Retirement System of Ohio acquired a new position in shares of Element Solutions during the 2nd quarter worth $750,000. Lapides Asset Management LLC acquired a new position in shares of Element Solutions during the 3rd quarter worth $1,209,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Element Solutions during the 2nd quarter worth $152,598,000. 87.99% of the stock is owned by institutional investors.
A number of research firms have recently commented on ESI. Barclays reissued a “hold” rating and set a $11.00 price target on shares of Element Solutions in a report on Wednesday, August 7th. SunTrust Banks lowered their price target on Element Solutions from $11.00 to $10.00 and set a “hold” rating for the company in a report on Friday, October 11th. CIBC reissued an “average” rating and set a $5.00 price target on shares of Element Solutions in a report on Tuesday, October 15th. ValuEngine cut Element Solutions from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Zacks Investment Research cut Element Solutions from a “hold” rating to a “sell” rating and set a $10.00 target price for the company. in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.42.
ESI traded up $0.32 on Friday, reaching $11.73. The stock had a trading volume of 4,582,488 shares, compared to its average volume of 2,412,126. Element Solutions Inc has a fifty-two week low of $8.55 and a fifty-two week high of $12.74. The firm has a 50-day moving average of $10.40 and a 200-day moving average of $10.17. The company has a current ratio of 2.74, a quick ratio of 2.14 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 83.79 and a beta of 2.13.
Element Solutions (NYSE:ESI) last issued its earnings results on Thursday, November 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. Element Solutions had a positive return on equity of 5.76% and a negative net margin of 18.53%. The business had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $469.25 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Element Solutions Inc will post 0.84 EPS for the current fiscal year.
In other news, COO Scot Benson bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $9.37 per share, with a total value of $93,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.30% of the stock is owned by corporate insiders.
About Element Solutions
Element Solutions Inc produces and sells specialty chemical products worldwide. The company operates through two segments, Electronics and Industrial & Specialty. The Electronics segment researches, formulates, and delivers specialty chemicals and materials for various types of electronics hardware products.
Featured Story: What is the CBOE Russell 2000® Volatility Index?
Want to see what other hedge funds are holding ESI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Element Solutions Inc (NYSE:ESI).
Receive News & Ratings for Element Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Element Solutions and related companies with MarketBeat.com's FREE daily email newsletter.