Man Group plc Acquires Shares of 29,772 Element Solutions Inc. $ESI

Man Group plc bought a new position in Element Solutions Inc. (NYSE:ESIFree 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.

Check Out Our Latest Stock Analysis on ESI

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:ESIGet 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

(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.

Further Reading

Want to see what other hedge funds are holding ESI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Element Solutions Inc. (NYSE:ESIFree Report).

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

Receive News & Ratings for Element Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Element Solutions and related companies with MarketBeat.com's FREE daily email newsletter.