175,131 Shares in Element Solutions Inc. $ESI Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 175,131 shares of Element Solutions worth approximately $8.36 million, giving it a 0.07% stake. Institutional investors collectively own 92.32% of the company.
• Element Solutions reported quarterly earnings of $0.47 per share, beating estimates of $0.43, while revenue rose 56.4% year over year to $977.9 million.
• Analysts maintain a consensus “Buy” rating with an average price target of $43.50, compared with the stock’s reported price of $35.92. The company also declared a quarterly dividend of $0.08 per share.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 175,131 shares of the company's stock, valued at approximately $8,363,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Element Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Element Solutions in the 2nd quarter worth about $5,607,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Element Solutions during the 2nd quarter worth about $14,629,000. Elevation Point Wealth Partners LLC bought a new position in Element Solutions during the 2nd quarter valued at about $1,002,000. Northwestern Mutual Wealth Management Co. bought a new position in Element Solutions during the 2nd quarter valued at about $63,000. Finally, Evolve Private Wealth LLC purchased a new stake in Element Solutions in the 2nd quarter worth about $337,000. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Price Performance

Shares of ESI opened at $35.92 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.11 and a current ratio of 2.91. The company has a 50 day moving average price of $39.84 and a 200-day moving average price of $38.30. Element Solutions Inc. has a fifty-two week low of $22.86 and a fifty-two week high of $49.25. The stock has a market capitalization of $8.75 billion, a PE ratio of 48.54, a PEG ratio of 1.22 and a beta of 1.26.

Element Solutions (NYSE:ESI - Get Free Report) last posted its earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. The company had revenue of $977.90 million during the quarter, compared to analyst estimates of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.Element Solutions's revenue was up 56.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. Equities analysts predict that Element Solutions Inc. will post 1.81 earnings per share for the current fiscal year.

Element Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Element Solutions's dividend payout ratio is 43.24%.

Analyst Ratings Changes

ESI has been the subject of several analyst reports. Wolfe Research set a $47.00 price objective on shares of Element Solutions in a research note on Wednesday, July 29th. BMO Capital Markets reiterated an "outperform" rating on shares of Element Solutions in a report on Tuesday, July 28th. Weiss Ratings reissued a "hold (c)" rating on shares of Element Solutions in a research note on Friday, August 14th. Seaport Research Partners restated a "buy" rating and set a $49.00 price objective on shares of Element Solutions in a report on Tuesday, May 5th. Finally, UBS Group upped their price objective on Element Solutions to $52.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Element Solutions presently has a consensus rating of "Buy" and an average price target of $43.50.

Element Solutions Company 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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