Bryce Point Capital LLC Makes New Investment in Element Solutions Inc. (NYSE:ESI)

Key Points

• Bryce Point Capital LLC has purchased 35,581 shares of Element Solutions Inc., valued at approximately $886,000, marking a new position for the firm.
• Institutional ownership in Element Solutions Inc. is high, with 92.32% of the stock currently held by institutional investors and hedge funds.
• Element Solutions recently announced a quarterly dividend of $0.08 per share, resulting in an annualized dividend of $0.32 and a dividend yield of 1.34%.

Bryce Point Capital LLC purchased a new stake in Element Solutions Inc. (NYSE:ESI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 35,581 shares of the company's stock, valued at approximately $886,000.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its holdings in Element Solutions by 1.8% in the 4th quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company's stock valued at $610,000 after buying an additional 423 shares in the last quarter. Treasurer of the State of North Carolina increased its position in Element Solutions by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company's stock worth $2,502,000 after buying an additional 610 shares during the period. KBC Group NV increased its position in Element Solutions by 7.1% during the 1st quarter. KBC Group NV now owns 10,319 shares of the company's stock worth $233,000 after buying an additional 681 shares during the period. OneDigital Investment Advisors LLC increased its position in Element Solutions by 5.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 15,696 shares of the company's stock worth $399,000 after buying an additional 793 shares during the period. Finally, KLP Kapitalforvaltning AS increased its position in Element Solutions by 1.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 47,900 shares of the company's stock worth $1,083,000 after buying an additional 900 shares during the period. Institutional investors own 92.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ESI. Bank of America upgraded Element Solutions from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $29.00 to $24.00 in a research report on Tuesday, April 15th. The Goldman Sachs Group restated a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Truist Financial upgraded Element Solutions from a "hold" rating to a "buy" rating and decreased their price target for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. KeyCorp raised their price target on Element Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Finally, BMO Capital Markets decreased their price target on Element Solutions from $34.00 to $30.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Element Solutions currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

Element Solutions Price Performance

Element Solutions stock traded up $0.58 during midday trading on Thursday, reaching $23.73. The company's stock had a trading volume of 1,577,146 shares, compared to its average volume of 2,657,552. Element Solutions Inc. has a 52 week low of $16.77 and a 52 week high of $29.78. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $22.84 and a 200-day moving average price of $23.20. The stock has a market cap of $5.76 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.23.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. Element Solutions had a return on equity of 14.42% and a net margin of 11.56%. The firm had revenue of $625.20 million for the quarter, compared to analyst estimates of $587.45 million. During the same period last year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Monday, June 2nd. Element Solutions's dividend payout ratio is currently 26.89%.

Element Solutions Profile

Element Solutions Inc operates as a specialty chemicals company in the United States, China, and internationally. The company operates in two segments, Electronics, and Industrial & Specialty. The Electronics segment researches, formulates, and sells specialty chemicals and materials for various types of electronics hardware products.