Allspring Global Investments Holdings LLC Boosts Holdings in Element Solutions Inc. $ESI

Allspring Global Investments Holdings LLC lifted its holdings in Element Solutions Inc. (NYSE:ESI - Free Report) by 32.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 379,382 shares of the company's stock after acquiring an additional 92,424 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.16% of Element Solutions worth $13,134,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in Element Solutions during the fourth quarter valued at about $28,000. Johnson Financial Group Inc. bought a new position in shares of Element Solutions during the third quarter valued at about $47,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Element Solutions in the third quarter worth about $49,000. Quarry LP increased its holdings in shares of Element Solutions by 27.3% in the third quarter. Quarry LP now owns 2,011 shares of the company's stock worth $51,000 after buying an additional 431 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in shares of Element Solutions by 1,051.6% in the 4th quarter. Clearstead Advisors LLC now owns 2,119 shares of the company's stock valued at $53,000 after acquiring an additional 1,935 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company's stock.

Element Solutions Stock Performance

NYSE:ESI opened at $38.18 on Wednesday. The stock has a market cap of $9.30 billion, a P/E ratio of 61.58, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The firm's fifty day simple moving average is $42.35 and its 200 day simple moving average is $36.70. Element Solutions Inc. has a twelve month low of $22.63 and a twelve month high of $49.25. The company has a quick ratio of 1.91, a current ratio of 2.68 and a debt-to-equity ratio of 0.75.

Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $710.51 million. Element Solutions had a net margin of 5.32% and a return on equity of 14.19%. The company's revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.34 EPS. As a group, research analysts predict that Element Solutions Inc. will post 1.79 EPS for the current year.

Element Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders 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 dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

ESI has been the subject of several analyst reports. BMO Capital Markets increased their target price on Element Solutions from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, July 6th. Mizuho reaffirmed a "neutral" rating and issued a $45.00 price target (down from $54.00) on shares of Element Solutions in a research note on Tuesday, July 14th. Freedom Capital upgraded Element Solutions to a "strong-buy" rating in a research report on Friday, March 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Element Solutions in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Element Solutions from a "hold" rating to a "buy" rating in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Element Solutions has a consensus rating of "Buy" and an average target price 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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