Bank of New York Mellon Corp purchased a new stake in Element Solutions Inc. (NYSE:ESI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,322,344 shares of the company's stock, valued at approximately $110,892,000. Bank of New York Mellon Corp owned 0.95% of Element Solutions at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its stake in Element Solutions by 151.0% during the first quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after acquiring an additional 468 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Element Solutions during the 4th quarter worth $28,000. NewEdge Advisors LLC grew its holdings in shares of Element Solutions by 57.4% during the 1st quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock worth $32,000 after purchasing an additional 346 shares during the period. Johnson Financial Group Inc. purchased a new stake in Element Solutions in the 3rd quarter valued at about $47,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in Element Solutions in the third quarter valued at about $49,000. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Seaport Research Partners reaffirmed a "buy" rating and set a $49.00 target price on shares of Element Solutions in a research note on Tuesday, May 5th. Mizuho restated a "neutral" rating and issued a $45.00 price objective (down from $54.00) on shares of Element Solutions in a report on Tuesday, July 14th. UBS Group lifted their target price on shares of Element Solutions to $52.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Truist Financial boosted their target price on Element Solutions from $47.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Element Solutions in a research report on Friday, August 14th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $43.50.
Read Our Latest Stock Analysis on ESI
Element Solutions Stock Down 1.0%
Shares of NYSE ESI opened at $34.97 on Tuesday. The stock has a market cap of $8.52 billion, a P/E ratio of 47.26, a PEG ratio of 1.22 and a beta of 1.26. The business's fifty day simple moving average is $40.21 and its 200-day simple moving average is $38.20. Element Solutions Inc. has a 12-month low of $22.86 and a 12-month high of $49.25. The company has a current ratio of 2.91, a quick ratio of 2.11 and a debt-to-equity ratio of 0.73.
Element Solutions (NYSE:ESI - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. Element Solutions had a return on equity of 14.88% and a net margin of 5.67%.Element Solutions's revenue was up 56.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 EPS. As a group, equities analysts predict that Element Solutions Inc. will post 1.81 EPS for the current fiscal year.
Element Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.9%. Element Solutions's dividend payout ratio is currently 43.24%.
About Element Solutions
(
Free Report)
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.
Further Reading
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