Advisors Asset Management Inc. Trims Stock Holdings in Element Solutions Inc. $ESI

Key Points

• Advisors Asset Management Inc. reduced its stake in Element Solutions Inc. by 43.6% to hold 13,990 shares valued at $316,000.
• Element Solutions reported a quarterly earnings per share of $0.37, which exceeded analysts' expectations and signified a 2.0% increase in revenue year-over-year.
• The company disclosed a quarterly dividend of $0.08 per share, with a dividend yield of 1.2%, scheduled for payment on September 15th.

Advisors Asset Management Inc. lowered its stake in Element Solutions Inc. (NYSE:ESI - Free Report) by 43.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,990 shares of the company's stock after selling 10,807 shares during the quarter. Advisors Asset Management Inc.'s holdings in Element Solutions were worth $316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESI. Park Square Financial Group LLC bought a new stake in Element Solutions in the fourth quarter valued at approximately $28,000. SVB Wealth LLC bought a new stake in Element Solutions in the first quarter valued at approximately $37,000. Eagle Bay Advisors LLC lifted its position in Element Solutions by 940.6% in the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock valued at $52,000 after purchasing an additional 2,060 shares during the last quarter. Covestor Ltd lifted its position in Element Solutions by 311.3% in the first quarter. Covestor Ltd now owns 3,126 shares of the company's stock valued at $71,000 after purchasing an additional 2,366 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Element Solutions by 1,707.2% in the first quarter. Caitong International Asset Management Co. Ltd now owns 8,512 shares of the company's stock valued at $192,000 after purchasing an additional 8,041 shares during the last quarter. Institutional investors own 92.32% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ESI. The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Mizuho boosted their price objective on Element Solutions from $24.00 to $27.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. KeyCorp boosted their price objective on Element Solutions from $29.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group upped their target price on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $27.38.

Element Solutions Trading Down 0.1%

Shares of Element Solutions stock traded down $0.02 during midday trading on Friday, reaching $26.35. 1,009,886 shares of the company's stock traded hands, compared to its average volume of 1,668,734. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. The company has a market cap of $6.37 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31. The stock has a 50 day moving average of $24.78 and a 200-day moving average of $22.98. Element Solutions Inc. has a 12 month low of $16.77 and a 12 month high of $29.78.

Element Solutions (NYSE:ESI - Get Free Report) last announced its 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. The company had revenue of $625.20 million during the quarter, compared to the consensus estimate of $587.45 million. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts expect that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Element Solutions's dividend payout ratio is presently 32.00%.

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.