The Vanguard Group, Inc. has recently announced that it has increased stake in Element Solutions Inc (NYSE:ESI) by 4.85%. After grabbing 22.4 million shares, the institutional investor is now in possession of 1.04 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 9.27% having worth around $469.49 million. Moreover, T. Rowe Price Investment Manageme increased its share by 0.42 million to have a control over 17.69 million shares. And Fidelity Management & Research Co raised its holdings to 1.52 million shares by acquiring 15.44 million shares or 6.39% of the stake.
Element Solutions Inc (ESI) concluded trading on December 20, 2023 at a closing price of $22.67, with 3.26 million shares of worth about $73.83 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.47% during that period and On Wednesday the price saw a gain of about 2.12%. Currently the company’s common shares owned by public are about 265.06M shares, out of which, 221.74M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 720,434 shares in 25 of the transactions. In 27 selling transactions, insiders dumped 782,602 shares.
Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and T Rowe Price Small Cap Stock Fund are the top 3 mutual funds which are holding stakes in Element Solutions Inc Vanguard Total Stock Market ETF is currently holding 7.21 million shares of worth totaling $151.17 million. The company recently came buying 13311.0 shares which brought its stake up to 2.99% of the company’s outstanding shares. Vanguard Small Cap Index Fund bought 13568.0 shares, after which its hold over company’s outstanding shares expand to 2.45%, leaving 5.92 million shares with the mutual fund that have a worth of about $124.04 million. T Rowe Price Small Cap Stock Fund, after selling 4.69 million shares, have now control over 1.94% of the stake in the company. It holds 6900.0 shares of worth $98.32 million.
However, the stock later moved at a day high price of 22.90, or with a gain of 2.12%. Stock saw a price change of 4.18% in past 5 days and over the past one month there was a price change of 10.05%. Year-to-date (YTD), ESI shares are showing a performance of 24.63% which increased to 25.25% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $17.08 but also hit the highest price of $22.75 during that period. The average intraday trading volume for Element Solutions Inc shares is 1.08 million. The stock is currently trading 7.33% above its 20-day simple moving average (SMA20), while that difference is up 14.12% for SMA50 and it goes to 17.45% higher than SMA200.
The Vanguard Group, Inc. acquired 22.4 million shares of Element Solutions Inc having value of about $469.49 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.04 million shares in the company valued at close to $23482152.75, or have control over 4.85% stake in the company. Element Solutions Inc (NYSE: ESI) currently have 265.06M outstanding shares and institutions hold larger chunk of about 93.61% of that. Holding of mutual funds in the company is about 38.62% while other institutional holders and individual stake holders have control over 55.32% and 14.66% of the stake respectively.
The stock has a current market capitalization of $5.48B and its 3Y-monthly beta is at 1.29. PE ratio of stock for trailing 12 months is 111.90, while it has posted earnings per share of $0.20 in the same period. Its PEG reads 16.95 and has Quick Ratio of 2.59 while making debt-to-equity ratio of 0.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ESI, volatility over the week remained 2.30% while standing at 1.96% over the month.
Analysts are in expectations that Element Solutions Inc (ESI) stock would likely to be making an EPS of $Quantum-Si Incorporated in the current quarter, while forecast for next quarter EPS is $1.74 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $WisdomTree India Earnings Fund which is $Eversource Energy (D/B/A) at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Atlas Energy Solutions Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -8.31% while it is estimated to increase by 13.75% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on June 20, 2023 offering an Outperform rating for the stock and assigned a target price of $23 to it.
