43,524 Shares in Element Solutions Inc. $ESI Bought by Maverick Capital Ltd.

Key Points

• Maverick Capital purchased 43,524 shares of Element Solutions in the first quarter, valued at approximately $1.49 million. Institutional investors collectively own 92.32% of ESI’s outstanding stock.
• Element Solutions exceeded quarterly expectations, reporting $0.47 in EPS versus the $0.43 consensus estimate and $977.9 million in revenue, up 56.4% year over year.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a $43 price target. The company also pays a quarterly dividend of $0.08 per share, representing a 0.8% yield.

Maverick Capital Ltd. purchased a new position in Element Solutions Inc. (NYSE:ESI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,524 shares of the company's stock, valued at approximately $1,486,000.

Several other institutional investors have also added to or reduced their stakes in ESI. Millennium Management LLC increased its holdings in shares of Element Solutions by 339.3% in the first quarter. Millennium Management LLC now owns 446,622 shares of the company's stock worth $10,098,000 after buying an additional 344,950 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Element Solutions by 60.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,894,061 shares of the company's stock valued at $42,825,000 after acquiring an additional 712,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Element Solutions by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 872,451 shares of the company's stock valued at $19,726,000 after acquiring an additional 37,204 shares during the period. Focus Partners Wealth bought a new position in Element Solutions during the 1st quarter worth approximately $400,000. Finally, Amundi grew its position in Element Solutions by 258,233.3% during the 2nd quarter. Amundi now owns 93,000 shares of the company's stock worth $2,237,000 after acquiring an additional 92,964 shares during the last quarter. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Element Solutions Trading Up 1.0%

ESI opened at $37.83 on Tuesday. The business has a 50 day simple moving average of $42.00 and a two-hundred day simple moving average of $37.03. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 1.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.68 and a quick ratio of 1.91. Element Solutions Inc. has a one year low of $22.63 and a one year high of $49.25.

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 for the quarter, topping the consensus estimate of $0.43 by $0.04. The business had revenue of $977.90 million during the quarter, compared to analysts' expectations of $873.19 million. Element Solutions had a return on equity of 14.19% and a net margin of 5.32%.The business's revenue was up 56.4% on a year-over-year basis. During the same quarter last year, the business posted $0.20 EPS. Analysts predict that Element Solutions Inc. will post 1.79 EPS 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 issued a $0.08 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.32 annualized dividend and a yield of 0.8%. Element Solutions's payout ratio is 51.61%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ESI. Seaport Research Partners reiterated a "buy" rating and issued a $49.00 price objective on shares of Element Solutions in a research report on Tuesday, May 5th. Truist Financial raised their target price on shares of Element Solutions from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Element Solutions in a research note on Tuesday, May 19th. UBS Group upped their price target on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Element Solutions from a "hold" rating to a "buy" rating in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $43.00.

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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