Appian Way Asset Management LP Has $15.78 Million Stake in Element Solutions Inc. $ESI

Key Points

• Appian Way Asset Management LP has reduced its holdings in Element Solutions Inc. by 51.9%, now owning 697,988 shares valued at $15.78 million.
• Element Solutions recently announced a quarterly dividend of $0.08 per share, yielding approximately 1.2%, to be paid on September 15th.
• Several analysts have raised their price targets for Element Solutions, with KeyCorp increasing their target to $30.00 and maintaining an "overweight" rating, while the consensus rating remains a "Buy."

Appian Way Asset Management LP cut its holdings in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 51.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 697,988 shares of the company's stock after selling 752,625 shares during the period. Element Solutions makes up 3.5% of Appian Way Asset Management LP's holdings, making the stock its 9th biggest holding. Appian Way Asset Management LP owned 0.29% of Element Solutions worth $15,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Element Solutions during the fourth quarter worth about $28,000. SVB Wealth LLC bought a new stake in shares of Element Solutions during the first quarter worth about $37,000. Eagle Bay Advisors LLC increased its position in shares of Element Solutions by 940.6% during the first quarter. Eagle Bay Advisors LLC now owns 2,279 shares of the company's stock worth $52,000 after acquiring an additional 2,060 shares in the last quarter. Covestor Ltd increased its position in shares of Element Solutions by 311.3% during the first quarter. Covestor Ltd now owns 3,126 shares of the company's stock worth $71,000 after acquiring an additional 2,366 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Element Solutions by 100.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,469 shares of the company's stock worth $88,000 after acquiring an additional 1,739 shares in the last quarter. 92.32% of the stock is owned by institutional investors.

Element Solutions Trading Down 0.8%

Shares of ESI stock opened at $25.71 on Tuesday. Element Solutions Inc. has a 52-week low of $16.77 and a 52-week high of $29.78. 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 50-day simple moving average of $24.30 and a two-hundred day simple moving average of $23.01. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.68 and a beta of 1.31.

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

Element Solutions Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on ESI shares. 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 objective (up from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. UBS Group upped their price objective on shares of Element Solutions from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Mizuho upped their price objective on shares of Element Solutions from $24.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One investment 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 stock. According to MarketBeat.com, Element Solutions presently has a consensus rating of "Buy" and an average 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.

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