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

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC grew its holdings in Element Solutions by 1.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 23,979 shares of the company's stock valued at $610,000 after buying an additional 423 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Element Solutions by 4.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 11,297 shares of the company's stock worth $287,000 after acquiring an additional 430 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Element Solutions by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 98,398 shares of the company's stock valued at $2,502,000 after acquiring an additional 610 shares in the last quarter. KBC Group NV increased its holdings in Element Solutions by 7.1% in the 1st quarter. KBC Group NV now owns 10,319 shares of the company's stock valued at $233,000 after acquiring an additional 681 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Element Solutions by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,644 shares of the company's stock worth $169,000 after purchasing an additional 684 shares in the last quarter. Institutional investors own 92.32% of the company's stock.

Element Solutions Trading Up 2.0%

Shares of ESI stock traded up $0.49 during trading hours on Thursday, reaching $24.72. 1,729,662 shares of the stock were exchanged, compared to its average volume of 2,035,859. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. Element Solutions Inc. has a 12-month low of $16.77 and a 12-month high of $29.78. The company's 50-day moving average price is $22.44 and its 200-day moving average price is $23.29. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 0.64.

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

Element Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend was Monday, June 2nd. Element Solutions's payout ratio is currently 26.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ESI. UBS Group raised their price objective on Element Solutions from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $27.00 price objective (up previously from $24.00) on shares of Element Solutions in a research note on Tuesday. Barclays lowered their target price on Element Solutions from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Truist Financial raised shares of Element Solutions from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $28.00 to $24.00 in a research note on Monday, April 14th. Finally, BMO Capital Markets lowered their price target on shares of Element Solutions from $34.00 to $30.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.