Valley Wealth Managers Inc. Invests $26.45 Million in Element Solutions Inc. $ESI

Valley Wealth Managers Inc. bought a new stake in Element Solutions Inc. (NYSE:ESIFree Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 774,648 shares of the company’s stock, valued at approximately $26,446,000. Element Solutions accounts for about 1.7% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 20th biggest holding. Valley Wealth Managers Inc. owned approximately 0.32% of Element Solutions as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ESI. Jennison Associates LLC grew its holdings in Element Solutions by 36.7% during the first quarter. Jennison Associates LLC now owns 2,977,958 shares of the company’s stock worth $101,667,000 after purchasing an additional 798,923 shares during the period. California Public Employees Retirement System increased its position in Element Solutions by 0.9% during the first quarter. California Public Employees Retirement System now owns 501,781 shares of the company’s stock worth $17,131,000 after buying an additional 4,482 shares during the last quarter. Assetmark Inc. raised its stake in Element Solutions by 151.0% in the first quarter. Assetmark Inc. now owns 778 shares of the company’s stock valued at $27,000 after buying an additional 468 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Element Solutions by 32.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 379,382 shares of the company’s stock valued at $13,134,000 after buying an additional 92,424 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Element Solutions by 30.8% in the first quarter. Bank of New York Mellon Corp now owns 2,650,802 shares of the company’s stock valued at $90,498,000 after buying an additional 624,759 shares during the last quarter. 92.32% of the stock is currently owned by institutional investors and hedge funds.

Element Solutions Trading Down 0.4%

ESI stock opened at $37.47 on Friday. Element Solutions Inc. has a 52 week low of $22.63 and a 52 week high of $49.25. The company has a market capitalization of $9.13 billion, a PE ratio of 60.43, a price-to-earnings-growth ratio of 1.30 and a beta of 1.23. The company’s 50-day simple moving average is $42.64 and its 200 day simple moving average is $36.45. 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 (NYSE:ESIGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $840.00 million during the quarter, compared to the consensus estimate of $710.51 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Element Solutions Inc. will post 1.79 earnings per share for the current year.

Element Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.32 dividend on an annualized basis and a yield of 0.9%. Element Solutions’s dividend payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial lifted their target price on Element Solutions from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Seaport Research Partners restated a “buy” rating and issued a $49.00 price target on shares of Element Solutions in a research note on Tuesday, May 5th. Wall Street Zen raised Element Solutions from a “hold” rating to a “buy” rating in a report on Monday, April 20th. Freedom Capital raised shares of Element Solutions to a “strong-buy” rating in a research report on Friday, March 27th. Finally, Mizuho reaffirmed a “neutral” rating and set a $45.00 price objective (down from $54.00) on shares of Element Solutions in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $43.00.

Check Out Our Latest Report on ESI

About Element Solutions

(Free Report)

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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Institutional Ownership by Quarter for Element Solutions (NYSE:ESI)

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