Oppenheimer Asset Management Inc. acquired a new position in Element Solutions Inc. (NYSE:ESI – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 46,174 shares of the company’s stock, valued at approximately $2,205,000.
Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Element Solutions by 16.4% during the 4th quarter. Parallel Advisors LLC now owns 2,455 shares of the company’s stock valued at $61,000 after acquiring an additional 345 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Element Solutions by 57.4% in the first quarter. NewEdge Advisors LLC now owns 949 shares of the company’s stock worth $32,000 after acquiring an additional 346 shares during the period. MML Investors Services LLC boosted its holdings in shares of Element Solutions by 0.3% in the fourth quarter. MML Investors Services LLC now owns 125,877 shares of the company’s stock worth $3,146,000 after acquiring an additional 355 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Element Solutions by 3.8% in the first quarter. EverSource Wealth Advisors LLC now owns 10,450 shares of the company’s stock valued at $357,000 after purchasing an additional 385 shares in the last quarter. Finally, Quarry LP grew its position in shares of Element Solutions by 27.3% in the third quarter. Quarry LP now owns 2,011 shares of the company’s stock valued at $51,000 after purchasing an additional 431 shares in the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on ESI. Weiss Ratings reiterated a “hold (c)” rating on shares of Element Solutions in a research note on Tuesday, May 19th. Wolfe Research set a $47.00 target price on Element Solutions in a research note on Wednesday, July 29th. Truist Financial lifted their target price on Element Solutions from $47.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Seaport Research Partners reissued a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a report on Tuesday, May 5th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Element Solutions in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $43.50.
Element Solutions Trading Down 0.0%
Element Solutions stock opened at $38.80 on Monday. The stock has a market cap of $9.46 billion, a P/E ratio of 52.44, a PEG ratio of 1.34 and a beta of 1.26. Element Solutions Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $49.25. The firm’s fifty day moving average price is $40.90 and its 200-day moving average price is $37.91. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91.
Element Solutions (NYSE:ESI – Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The firm’s revenue was up 56.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. Equities research analysts forecast that Element Solutions Inc. will post 1.81 earnings per share for the current fiscal year.
Element Solutions Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 1st. Element Solutions’s dividend payout ratio is currently 43.24%.
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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