Rokos Capital Management LLP acquired a new position in Element Solutions Inc. (NYSE:ESI – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 114,347 shares of the company’s stock, valued at approximately $3,904,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Iridian Asset Management LLC CT boosted its stake in shares of Element Solutions by 37.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock worth $6,603,000 after acquiring an additional 71,686 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Element Solutions by 7.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,524,090 shares of the company’s stock worth $63,077,000 after purchasing an additional 174,228 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Element Solutions by 45.2% in the 4th quarter. Hsbc Holdings PLC now owns 189,883 shares of the company’s stock worth $4,767,000 after purchasing an additional 59,154 shares in the last quarter. Capital World Investors raised its holdings in Element Solutions by 3.8% in the 4th quarter. Capital World Investors now owns 3,405,232 shares of the company’s stock worth $85,097,000 after purchasing an additional 123,244 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Element Solutions by 2,818.0% in the 1st quarter. Fifth Third Bancorp now owns 68,543 shares of the company’s stock worth $2,340,000 after purchasing an additional 66,194 shares during the period. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on ESI. BMO Capital Markets lifted their target price on Element Solutions from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Seaport Research Partners restated a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a research report on Tuesday, May 5th. Truist Financial raised their price objective on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. UBS Group lifted their price objective on Element Solutions to $52.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded Element Solutions from a “hold” rating to a “buy” rating in a research note on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $43.00.
Element Solutions Stock Up 1.0%
ESI opened at $37.83 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 2.68. Element Solutions Inc. has a fifty-two week low of $22.63 and a fifty-two week high of $49.25. The firm’s fifty day moving average is $42.00 and its 200 day moving average is $37.03. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23.
Element Solutions (NYSE:ESI – Get Free Report) last issued its earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $977.90 million during the quarter, compared to the consensus estimate of $873.19 million. During the same quarter in the prior year, the firm posted $0.20 EPS. Element Solutions’s quarterly revenue was up 56.4% compared to the same quarter last year. On average, sell-side analysts forecast that Element Solutions Inc. will post 1.79 earnings per share for the current fiscal year.
Element Solutions Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.8%. Element Solutions’s dividend payout ratio is 51.61%.
Element Solutions Profile
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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