Peregrine Capital Management LLC reduced its holdings in shares of Element Solutions Inc. (NYSE:ESI – Free Report) by 21.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 523,976 shares of the company’s stock after selling 144,881 shares during the period. Element Solutions comprises about 0.7% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 28th biggest position. Peregrine Capital Management LLC owned 0.22% of Element Solutions worth $17,889,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT raised its holdings in shares of Element Solutions by 37.2% in the 4th quarter. Iridian Asset Management LLC CT now owns 264,211 shares of the company’s stock worth $6,603,000 after buying an additional 71,686 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Element Solutions by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 8,256,926 shares of the company’s stock valued at $207,822,000 after acquiring an additional 139,751 shares during the period. American Century Companies Inc. grew its position in Element Solutions by 28.0% in the third quarter. American Century Companies Inc. now owns 4,195,840 shares of the company’s stock valued at $105,609,000 after acquiring an additional 916,804 shares during the period. Thrivent Financial for Lutherans raised its stake in Element Solutions by 7.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,524,090 shares of the company’s stock worth $63,077,000 after acquiring an additional 174,228 shares in the last quarter. Finally, Peak Financial Advisors LLC raised its stake in Element Solutions by 282.4% during the fourth quarter. Peak Financial Advisors LLC now owns 79,797 shares of the company’s stock worth $1,994,000 after acquiring an additional 58,929 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on ESI. Freedom Capital upgraded shares of Element Solutions to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen raised shares of Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Weiss Ratings restated a “hold (c)” rating on shares of Element Solutions in a research report on Tuesday, May 19th. Truist Financial upped their price objective on shares of Element Solutions from $38.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, UBS Group boosted their target price on Element Solutions to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.57.
Element Solutions Stock Up 3.4%
Shares of NYSE:ESI opened at $47.87 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 firm has a market cap of $11.66 billion, a P/E ratio of 77.20, a P/E/G ratio of 1.62 and a beta of 1.25. Element Solutions Inc. has a 12 month low of $22.44 and a 12 month high of $49.25. The company’s 50-day moving average price is $42.72 and its two-hundred day moving average price is $35.16.
Element Solutions (NYSE:ESI – Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $710.51 million. During the same period in the prior year, the business earned $0.34 earnings per share. Element Solutions’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, research analysts forecast that Element Solutions Inc. will post 1.78 EPS for the current fiscal year.
Element Solutions Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Element Solutions’s dividend payout ratio is 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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