BlackRock Inc. Takes $1.32 Billion Position in Element Solutions Inc. $ESI

BlackRock Inc. purchased a new stake in shares of Element Solutions Inc. (NYSE:ESI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 27,595,035 shares of the company's stock, valued at approximately $1,317,663,000. BlackRock Inc. owned approximately 11.32% of Element Solutions at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Element Solutions by 151.0% in the 1st quarter. Assetmark Inc. now owns 778 shares of the company's stock worth $27,000 after buying an additional 468 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Element Solutions during the fourth quarter valued at approximately $28,000. NewEdge Advisors LLC lifted its holdings in Element Solutions by 57.4% during the first quarter. NewEdge Advisors LLC now owns 949 shares of the company's stock worth $32,000 after acquiring an additional 346 shares during the period. Johnson Financial Group Inc. bought a new stake in Element Solutions during the third quarter worth $47,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Element Solutions in the third quarter worth $49,000. 92.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Mizuho reaffirmed a "neutral" rating and set a $45.00 target price (down from $54.00) on shares of Element Solutions in a research report on Tuesday, July 14th. Truist Financial boosted their price target on shares of Element Solutions from $47.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Wolfe Research set a $47.00 price target on shares of Element Solutions in a research report on Wednesday, July 29th. UBS Group raised their price objective on shares of Element Solutions to $52.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Seaport Research Partners reaffirmed a "buy" rating and issued a $49.00 price objective on shares of Element Solutions in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $43.50.

Element Solutions Stock Down 1.6%

ESI stock opened at $35.59 on Friday. The stock has a 50-day simple moving average of $40.59 and a two-hundred day simple moving average of $38.12. Element Solutions Inc. has a twelve month low of $22.86 and a twelve month high of $49.25. The firm has a market capitalization of $8.67 billion, a PE ratio of 48.09, a PEG ratio of 1.25 and a beta of 1.26. The company has a quick ratio of 2.11, a current ratio of 2.91 and a debt-to-equity ratio of 0.73.

Element Solutions (NYSE:ESI - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.04. Element Solutions had a net margin of 5.67% and a return on equity of 14.88%. The firm had revenue of $977.90 million for the quarter, compared to the consensus estimate of $873.19 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The company's revenue for the quarter was up 56.4% on a year-over-year basis. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.32 annualized dividend and a yield of 0.9%. Element Solutions's dividend payout ratio is currently 43.24%.

About Element Solutions

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.

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