Hsbc Holdings PLC boosted its position in Element Solutions Inc. (NYSE:ESI – Free Report) by 45.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,883 shares of the company’s stock after acquiring an additional 59,154 shares during the period. Hsbc Holdings PLC’s holdings in Element Solutions were worth $4,767,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of Element Solutions by 48.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,902 shares of the company’s stock worth $123,000 after purchasing an additional 1,590 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Element Solutions by 3,359.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,165 shares of the company’s stock valued at $204,000 after purchasing an additional 7,929 shares during the period. MidFirst Bank bought a new position in Element Solutions during the 4th quarter valued at approximately $398,000. Kera Capital Partners Inc. raised its position in Element Solutions by 77.1% during the 4th quarter. Kera Capital Partners Inc. now owns 16,331 shares of the company’s stock valued at $408,000 after purchasing an additional 7,110 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in Element Solutions by 13.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,119,999 shares of the company’s stock valued at $277,889,000 after purchasing an additional 1,298,273 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on ESI shares. Seaport Research Partners reiterated a “buy” rating and issued a $49.00 price objective on shares of Element Solutions in a research report on Tuesday, May 5th. UBS Group lifted their price target on shares of Element Solutions to $52.00 and gave the company a “buy” rating in a report on Thursday, April 30th. BMO Capital Markets boosted their price objective on shares of Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday. Truist Financial upped their price objective on shares of Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Element Solutions in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $44.29.
Element Solutions Trading Up 3.2%
Element Solutions stock opened at $40.61 on Friday. Element Solutions Inc. has a 12 month low of $22.63 and a 12 month high of $49.25. The business’s fifty day simple moving average is $43.15 and its two-hundred day simple moving average is $35.96. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 65.50, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The company has a current ratio of 2.68, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.
Element Solutions (NYSE:ESI – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $710.51 million. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, equities analysts predict that Element Solutions Inc. will post 1.78 earnings per share for the current fiscal year.
Element Solutions Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions’s dividend payout ratio is currently 51.61%.
About Element Solutions
Element Solutions Inc is a global specialty chemicals company that develops and supplies highly engineered chemistries to performance-driven end markets. The company’s solutions serve customers across the electronics, energy, transportation, consumer and industrial sectors, with a particular emphasis on electronics chemicals, metal plating, and industrial coatings additives.
In the electronics market, Element Solutions provides a range of plating and surface-treatment chemistries used in the manufacture of printed circuit boards, semiconductor devices, and advanced display technologies.
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