Bank of New York Mellon Corp Purchases 560,346 Shares of Element Solutions Inc. (NYSE:ESI)

Bank of New York Mellon Corp boosted its position in shares of Element Solutions Inc. (NYSE:ESI - Free Report) by 48.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,716,292 shares of the company's stock after acquiring an additional 560,346 shares during the period. Bank of New York Mellon Corp owned 0.71% of Element Solutions worth $38,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC acquired a new position in Element Solutions during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new position in Element Solutions during the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new position in Element Solutions during the 4th quarter worth $68,000. Wells Fargo & Company MN lifted its position in Element Solutions by 100.5% during the 4th 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 during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Element Solutions by 53.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,649 shares of the company's stock worth $144,000 after acquiring an additional 1,963 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company's stock.

Element Solutions Price Performance

NYSE:ESI traded down $0.09 during mid-day trading on Friday, hitting $24.60. The company's stock had a trading volume of 471,108 shares, compared to its average volume of 2,031,188. Element Solutions Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $29.78. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 20.67, a P/E/G ratio of 1.76 and a beta of 1.23. The stock has a fifty day moving average of $22.51 and a 200-day moving average of $23.29.

Element Solutions (NYSE:ESI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Element Solutions had a net margin of 11.56% and a return on equity of 14.42%. The firm had revenue of $593.70 million during the quarter, compared to analyst estimates of $576.73 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Element Solutions Inc. will post 1.45 EPS for the current fiscal year.

Element Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.32 annualized dividend and a yield of 1.30%. Element Solutions's dividend payout ratio is 26.89%.

Wall Street Analyst Weigh In

ESI has been the subject of a number of research analyst reports. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and cut their target price for the stock from $28.00 to $24.00 in a research report on Monday, April 14th. Barclays cut their price objective on shares of Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Bank of America raised shares of Element Solutions from a "neutral" rating to a "buy" rating and cut their price objective for the company from $29.00 to $24.00 in a research report on Tuesday, April 15th. UBS Group upped their price objective on shares of Element Solutions from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Element Solutions currently has an average rating of "Moderate Buy" and an average price target of $27.13.

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.