Kornitzer Capital Management Inc. KS Sells 40,000 Shares of Element Solutions Inc (NYSE:ESI)

Kornitzer Capital Management Inc. KS trimmed its position in shares of Element Solutions Inc (NYSE:ESI) by 26.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,500 shares of the company’s stock after selling 40,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Element Solutions were worth $2,947,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ESI. Quarry LP bought a new position in Element Solutions during the 2nd quarter valued at about $31,000. LRI Investments LLC bought a new position in Element Solutions during the 1st quarter valued at about $78,000. EverSource Wealth Advisors LLC grew its stake in Element Solutions by 39.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,056 shares of the company’s stock worth $82,000 after acquiring an additional 864 shares in the last quarter. Quest Partners LLC grew its stake in Element Solutions by 14,600.0% in the 2nd quarter. Quest Partners LLC now owns 3,234 shares of the company’s stock worth $88,000 after acquiring an additional 3,212 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Element Solutions by 13.8% in the 2nd quarter. Signaturefd LLC now owns 3,683 shares of the company’s stock worth $100,000 after acquiring an additional 448 shares in the last quarter. 92.32% of the stock is currently owned by institutional investors.

Element Solutions Price Performance

Shares of ESI opened at $28.82 on Friday. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.29. Element Solutions Inc has a twelve month low of $18.82 and a twelve month high of $29.16. The company has a quick ratio of 2.77, a current ratio of 3.52 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average of $26.23 and a two-hundred day moving average of $25.73.

Element Solutions (NYSE:ESI) last announced its earnings results on Monday, October 28th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The company had revenue of $645.00 million during the quarter, compared to the consensus estimate of $626.52 million. Element Solutions had a net margin of 11.08% and a return on equity of 14.42%. Element Solutions’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts predict that Element Solutions Inc will post 1.44 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

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 annualized dividend and a dividend yield of 1.11%. Element Solutions’s payout ratio is currently 28.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ESI. BMO Capital Markets upped their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Element Solutions to a “strong-buy” rating in a research note on Monday, October 14th. StockNews.com downgraded shares of Element Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Barclays upped their target price on shares of Element Solutions from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Element Solutions from a “peer perform” rating to an “outperform” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.00.

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.