Element Solutions Inc. $ESI Shares Sold by Advisors Asset Management Inc.

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in Element Solutions in the 4th quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in shares of Element Solutions in the first quarter valued at approximately $37,000. Eagle Bay Advisors LLC boosted its stake in shares of 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 buying an additional 2,060 shares in the last quarter. Covestor Ltd boosted its stake in shares of 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 buying an additional 2,366 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 buying an additional 8,041 shares in the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Stock Down 0.5%

Shares of NYSE ESI traded down $0.14 during midday trading on Wednesday, reaching $26.37. 1,806,113 shares of the company's stock were exchanged, compared to its average volume of 1,612,005. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.30 and a current ratio of 4.10. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78. The business's fifty day moving average price is $24.90 and its two-hundred day moving average price is $23.03. The stock has a market capitalization of $6.37 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.31.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Element Solutions had a return on equity of 14.14% and a net margin of 9.66%.The firm had revenue of $625.20 million during the quarter, compared to analyst estimates of $587.45 million. During the same period in the previous year, the company earned $0.36 earnings per share. Element Solutions's quarterly revenue was up 2.0% on a year-over-year basis. Analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current year.

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Element Solutions's dividend payout ratio is currently 32.00%.

Analyst Ratings Changes

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

About Element Solutions

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.