Fri Sep 20 11:36:08 UTC 2024: ## Massachusetts Financial Services Cuts Stake in Element Solutions

**BOSTON, MA – September 20, 2024** – Massachusetts Financial Services Co. (MA) trimmed its holdings in specialty chemicals company Element Solutions Inc (NYSE:ESI) by 0.9% during the second quarter, according to a recent SEC filing. The firm sold 21,404 shares, leaving them with 2,340,437 shares valued at $63,473,000 as of the end of the reporting period.

This move follows a trend of other institutional investors adjusting their positions in ESI. Richardson Financial Services Inc. acquired a new stake worth $27,000 in the fourth quarter, while EverSource Wealth Advisors LLC increased its stake by 51.9%. Assetmark Inc. saw a significant boost of 1,585.0% in its holdings during the same period, and Quest Partners LLC grew its position by a staggering 14,600.0% in the second quarter.

Overall, institutional investors currently hold 92.32% of ESI stock.

Shares of ESI opened at $25.83 on Friday, with a market capitalization of $6.25 billion. The company’s financial ratios include a debt-to-equity ratio of 0.80, a quick ratio of 2.60, and a current ratio of 3.50.

Element Solutions recently announced a quarterly dividend of $0.08, paid on September 13th. The annualized dividend is $0.32, yielding 1.24%.

Analysts are largely bullish on ESI. UBS Group raised their price target to $33.00 and maintained a “buy” rating, while StockNews.com upgraded the stock from “hold” to “buy”. Mizuho, Goldman Sachs, and BMO Capital Markets also raised their price targets, with BMO reiterating an “outperform” rating. Overall, the stock has an average rating of “Moderate Buy” with a consensus price target of $29.40.

Element Solutions operates in two segments: Electronics and Industrial & Specialty. The company focuses on researching, developing, and selling specialty chemicals and materials used in various electronics and industrial applications.

**Interested investors can find further details on ESI holdings and insider trades at HoldingsChannel.com.**

Read More