Man Group plc bought a new position in Element Solutions Inc. (NYSE:ESI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,772 shares of the company’s stock, valued at approximately $1,422,000.
Other hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its stake in Element Solutions by 151.0% in the 1st quarter. Assetmark Inc. now owns 778 shares of the company’s stock worth $27,000 after purchasing an additional 468 shares during the period. NewEdge Advisors LLC lifted 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 valued at $32,000 after purchasing an additional 346 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Element Solutions in the fourth quarter valued at $28,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Element Solutions in the second quarter valued at $63,000. Finally, Allworth Financial LP acquired a new stake in shares of Element Solutions in the second quarter worth $66,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ESI. Weiss Ratings upgraded Element Solutions from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 27th. Mizuho reissued a “neutral” rating and issued a $45.00 price objective (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. 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 research note on Thursday, July 9th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Element Solutions in a research report on Tuesday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $46.00.
Element Solutions Trading Up 0.1%
NYSE ESI opened at $34.41 on Thursday. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73. Element Solutions Inc. has a 1-year low of $22.86 and a 1-year high of $49.25. The firm’s fifty day simple moving average is $38.69 and its 200-day simple moving average is $38.42. The company has a market capitalization of $8.38 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.
Element Solutions (NYSE:ESI – Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.The firm had revenue of $977.90 million during the quarter, compared to analysts’ expectations of $873.19 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was up 56.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Element Solutions Inc. will post 1.8 earnings per share for the current fiscal year.
Element Solutions Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Element Solutions’s dividend payout ratio (DPR) is 43.24%.
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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