Assenagon Asset Management S.A. Makes New $1 Million Investment in Element Solutions Inc. $ESI

Key Points

• Assenagon Asset Management S.A. has made a new investment of approximately $1 million in Element Solutions Inc. by acquiring 44,212 shares of the company during the second quarter.
• Element Solutions recently reported a quarterly earnings per share (EPS) of $0.37, exceeding consensus estimates, and experienced a 2.0% year-over-year increase in revenue.
• Over 92% of Element Solutions' stock is held by institutional investors, highlighting strong market confidence, while insiders recently sold 168,399 shares totaling about $4.49 million.

Assenagon Asset Management S.A. bought a new position in Element Solutions Inc. (NYSE:ESI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 44,212 shares of the company's stock, valued at approximately $1,001,000.

Other large investors also recently modified their holdings of the company. SVB Wealth LLC acquired a new position in shares of Element Solutions during the first quarter valued at $37,000. Eagle Bay Advisors LLC increased its holdings 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 valued at $52,000 after purchasing an additional 2,060 shares during the period. Covestor Ltd increased its holdings in shares of Element Solutions by 311.3% during 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 period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Element Solutions by 1,707.2% during 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 period. Finally, Corebridge Financial Inc. increased its holdings in shares of Element Solutions by 459.4% during the first quarter. Corebridge Financial Inc. now owns 8,698 shares of the company's stock valued at $197,000 after purchasing an additional 7,143 shares during the period. 92.32% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Element Solutions news, EVP Carey J. Dorman sold 40,725 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $26.66, for a total value of $1,085,728.50. Following the transaction, the executive vice president owned 214,837 shares of the company's stock, valued at approximately $5,727,554.42. The trade was a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matthew Liebowitz sold 50,000 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $26.55, for a total value of $1,327,500.00. Following the sale, the executive vice president owned 57,353 shares of the company's stock, valued at approximately $1,522,722.15. The trade was a 46.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,399 shares of company stock valued at $4,492,561. 6.90% of the stock is currently owned by corporate insiders.

Element Solutions Price Performance

Shares of ESI stock opened at $24.95 on Friday. The stock's fifty day simple moving average is $25.07 and its 200 day simple moving average is $23.05. The company has a debt-to-equity ratio of 0.62, a current ratio of 4.10 and a quick ratio of 3.30. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 24.95, a P/E/G ratio of 1.63 and a beta of 1.31. Element Solutions Inc. has a one year low of $16.77 and a one year high of $29.78.

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

Element Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. Element Solutions's payout ratio is currently 32.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ESI shares. UBS Group raised their price target on Element Solutions from $29.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group reiterated a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday, July 15th. Mizuho increased their price target 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 increased their price target 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, Fermium Researc raised Element Solutions to a "strong-buy" rating in a research note on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus 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.

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