481,907 Shares of Element Solutions Inc. $ESI Purchased by Arnhold LLC

Key Points

• Arnhold LLC acquired 481,907 shares of Element Solutions during the third quarter, worth approximately $17.5 million and representing about 0.20% of the company.
• Element Solutions exceeded quarterly expectations, reporting $0.50 EPS versus the $0.48 consensus and revenue of $995.3 million, up 51.7% year over year.
• Analysts maintain a generally positive outlook, with the stock receiving an average “Buy” rating and a consensus price target of $46.36, while the company pays a quarterly dividend of $0.08 per share.

Arnhold LLC acquired a new stake in Element Solutions Inc. (NYSE:ESI - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 481,907 shares of the company's stock, valued at approximately $17,484,000. Element Solutions comprises 1.2% of Arnhold LLC's portfolio, making the stock its 28th biggest position. Arnhold LLC owned about 0.20% of Element Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after purchasing an additional 468 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Element Solutions in the 2nd quarter valued at about $27,000. NewEdge Advisors LLC lifted its holdings in shares of Element Solutions by 57.4% in the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock valued at $32,000 after purchasing an additional 346 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Element Solutions by 373.1% in the 3rd quarter. Fortitude Family Office LLC now owns 932 shares of the company's stock valued at $34,000 after purchasing an additional 735 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in shares of Element Solutions in the 3rd quarter valued at about $54,000. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Price Performance

Shares of NYSE ESI opened at $33.48 on Tuesday. The stock has a fifty day moving average price of $35.36 and a 200 day moving average price of $36.63. Element Solutions Inc. has a 1-year low of $22.86 and a 1-year high of $49.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.78 and a quick ratio of 2.06. The company has a market cap of $8.12 billion, a PE ratio of 18.98, a P/E/G ratio of 1.20 and a beta of 1.26.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $995.30 million for the quarter, compared to analysts' expectations of $964.23 million. Element Solutions had a net margin of 5.87% and a return on equity of 15.45%. Element Solutions's revenue was up 51.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. Sell-side analysts forecast that Element Solutions Inc. will post 1.85 EPS for the current year.

Element Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, September 1st. Element Solutions's payout ratio is 37.65%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ESI. Truist Financial increased their price objective on Element Solutions from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday. Freedom Capital raised shares of Element Solutions from a "hold" rating to a "strong-buy" rating in a report on Friday, August 28th. Mizuho upped their price target on shares of Element Solutions from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Thursday, October 22nd. William Blair set a $48.00 price objective on shares of Element Solutions in a research note on Friday, August 28th. Finally, Wolfe Research set a $47.00 target price on shares of Element Solutions in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $46.36.

Element Solutions Profile

Element Solutions Inc NYSE: ESI is a specialty chemicals company that develops and produces materials used in electronics manufacturing and a range of industrial applications. Its products are designed to support processes such as printed circuit board fabrication, semiconductor packaging, electronic assembly, metal finishing, and surface treatment.

Through its electronics-focused businesses, including MacDermid Alpha Solutions, the company supplies solder materials, electronic assembly chemicals, circuit board materials, and semiconductor packaging solutions.

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