M&T Bank Corp Sells 2,489 Shares of Element Solutions Inc (NYSE:ESI)

M&T Bank Corp lessened its position in shares of Element Solutions Inc (NYSE:ESI) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,445 shares of the company’s stock after selling 2,489 shares during the period. M&T Bank Corp’s holdings in Element Solutions were worth $664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ESI. US Bancorp DE boosted its stake in Element Solutions by 0.9% in the 3rd quarter. US Bancorp DE now owns 46,005 shares of the company’s stock valued at $1,249,000 after purchasing an additional 417 shares during the period. Signaturefd LLC lifted its holdings in shares of Element Solutions by 13.8% during the second quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after buying an additional 448 shares in the last quarter. Equitable Trust Co. boosted its position in shares of Element Solutions by 2.2% in the third quarter. Equitable Trust Co. now owns 33,527 shares of the company’s stock valued at $911,000 after acquiring an additional 733 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Element Solutions by 39.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $82,000 after acquiring an additional 864 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Element Solutions in the third quarter valued at about $25,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

Analysts Set New Price Targets

ESI has been the subject of several analyst reports. BMO Capital Markets lifted their price objective on shares of Element Solutions from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday. Seaport Res Ptn upgraded shares of Element Solutions to a “strong-buy” rating in a research report on Monday, October 14th. Wolfe Research raised Element Solutions from a “peer perform” rating to an “outperform” rating in a research report on Friday, October 25th. StockNews.com cut Element Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 2nd. Finally, Barclays increased their target price on Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Element Solutions currently has an average rating of “Moderate Buy” and a consensus target price of $31.40.

Element Solutions Stock Down 1.6 %

Shares of ESI opened at $26.84 on Tuesday. The firm has a 50 day simple moving average of $27.38 and a two-hundred day simple moving average of $26.55. The company has a debt-to-equity ratio of 0.78, a current ratio of 3.52 and a quick ratio of 2.77. Element Solutions Inc has a one year low of $21.42 and a one year high of $29.78. The company has a market cap of $6.50 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.51 and a beta of 1.28.

Element Solutions (NYSE:ESI) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to analysts’ expectations of $626.52 million. Element Solutions had a return on equity of 14.42% and a net margin of 11.08%. Element Solutions’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 EPS. Research analysts forecast that Element Solutions Inc will post 1.44 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.08 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. Element Solutions’s payout ratio is currently 28.83%.

Element Solutions 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.