Reinhart Partners LLC. cut its holdings in Element Solutions Inc. (NYSE:ESI – Free Report) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246,917 shares of the company’s stock after selling 407,185 shares during the quarter. Reinhart Partners LLC.’s holdings in Element Solutions were worth $31,161,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ESI. Invesco Ltd. lifted its position in Element Solutions by 68.6% in the 3rd quarter. Invesco Ltd. now owns 4,922,726 shares of the company’s stock valued at $123,905,000 after acquiring an additional 2,003,724 shares in the last quarter. Scopus Asset Management L.P. lifted its holdings in shares of Element Solutions by 134.6% during the 2nd quarter. Scopus Asset Management L.P. now owns 3,426,156 shares of the company’s stock valued at $77,602,000 after buying an additional 1,965,691 shares during the period. Merewether Investment Management LP bought a new position in shares of Element Solutions during the 2nd quarter valued at $28,031,000. Schroder Investment Management Group lifted its holdings in shares of Element Solutions by 167.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,820,902 shares of the company’s stock valued at $45,486,000 after buying an additional 1,138,927 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Element Solutions by 28.0% during the 3rd quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock valued at $105,609,000 after buying an additional 916,804 shares during the period. 92.32% of the stock is owned by institutional investors.
Analysts Set New Price Targets
ESI has been the topic of a number of recent research reports. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. BMO Capital Markets reissued an “outperform” rating on shares of Element Solutions in a report on Wednesday, May 20th. UBS Group raised their target price on Element Solutions to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Seaport Research Partners reaffirmed a “buy” rating and issued a $49.00 target price on shares of Element Solutions in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Element Solutions in a report on Monday, February 23rd. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $39.57.
Element Solutions Price Performance
NYSE:ESI opened at $42.66 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75. The business’s 50-day simple moving average is $38.91 and its two-hundred day simple moving average is $32.41. The stock has a market cap of $10.39 billion, a PE ratio of 68.80, a P/E/G ratio of 1.45 and a beta of 1.25. Element Solutions Inc. has a 52 week low of $20.95 and a 52 week high of $45.51.
Element Solutions (NYSE:ESI – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $710.51 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period last year, the firm earned $0.34 earnings per share. As a group, analysts forecast that Element Solutions Inc. will post 1.78 EPS for the current fiscal year.
Element Solutions Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.08 per share. The ex-dividend date is 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 (DPR) is presently 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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